Danish biotech firm Symphogen enters multi-million dollar American partnership deal

The Danes will receive upfront payment and potential royalties for R&D efforts

The Danish biotech company Symphogen has entered into a strategic collaboration agreement with the US firm Baxalta that will see the Danes receive 175 million dollars (1.2 billion kroner) upfront, with the potential for future payments and royalties.

Symphogen specialises in antibody therapeutics for the treatment of cancer while Baxalta works with therapies for orphan diseases and underserved conditions in hematology, oncology and immunology.

Different strengths
According to the terms of the partnership, Symphogen will work on the development of six so-called novel immune checkpoint therapies in the treatment of rare diseases, whereafter Baxalta will have the exclusive option rights to commercialise the products worldwide.

Kirsten Drejer, the CEO of Symphogen, said the two parties brought different strengths to the table.

“Baxalta’s dedication to delivering transformative therapies and its global commercial presence make it an ideal strategic partner for Symphogen, as we complement Baxalta with R&D competencies within the immuno-oncology area,” she said.

“We look forward to providing Baxalta with innovative immuno-oncology product candidates under this broad collaboration.”