5Y News｜Syneron Bio Enters Strategic Partnership with AstraZeneca
Continue to track technological innovation in the biopharma space.
Syneron Bio, a company developing innovative oral macrocyclic peptide drugs, today announced a strategic partnership with AstraZeneca, a global pharmaceutical leader, to jointly develop first-in-class macrocyclic peptide therapeutics for chronic diseases. Under the agreement, AstraZeneca will gain access to Syneron Bio's proprietary Synova™ technology platform. This intelligent, high-throughput macrocyclic peptide drug discovery platform will help advance the development of innovative medicines for rare diseases, autoimmune disorders, and metabolic diseases.
According to the terms of the agreement, AstraZeneca will pay an upfront and near-term milestone payment of $75 million, with total R&D and commercialization milestone payments of up to $3.4 billion, plus tiered royalties on global net sales. Additionally, AstraZeneca will make an equity investment in Syneron Bio. Syneron Bio plans to use this collaboration to expand its Beijing R&D center.
Dr. Xiao Zhang, founder and CEO of Syneron Bio, said: "We are delighted to enter into this strategic partnership with AstraZeneca. This collaboration validates the value of the Synova™ platform in innovative drug discovery. Faced with the severe challenges posed by chronic conditions such as autoimmune and metabolic diseases, this partnership demonstrates our shared commitment to accelerating the development of therapeutics for these conditions."
Xutian Jing, Managing Director at 5Y Capital, said: "Syneron's globally unique technology platform holds tremendous potential and promises to open up an entirely new druggable space. This collaboration marks the beginning of this young company's journey in technology translation, and we believe it will continue to bring scarce, high-quality assets to the pharmaceutical industry. 5Y Capital remains committed to tracking technological innovation in the biopharma sector, and we aim to stand at the forefront of science alongside visionary entrepreneurs."
Yaqiong Chen, Senior Investment Manager at 5Y Capital, said: "Cyclic peptide drugs combine the oral convenience of small molecules with the targeting capability of protein therapeutics, making them a promising next breakthrough in the new modality space. We see enormous potential in Syneron's technology platform for the discovery and optimization of oral cyclic peptides, and we look forward to seeing its pipeline demonstrate tangible clinical value. We will continue to identify and support transformative pioneers driving progress in the pharmaceutical industry, working alongside them to push the boundaries of technology and human health."
About Syneron Bio
Syneron Bio is a biotechnology company dedicated to developing novel macrocyclic peptide therapeutics. Leveraging its proprietary Synova™ platform, the company has built a rich and differentiated pipeline of macrocyclic peptide drugs, aiming to provide breakthrough treatment options for patients worldwide in oncology and chronic disease. Syneron Bio's core team brings extensive drug development experience and world-class data science capabilities. In less than three years, the company has completed multiple rounds of equity financing from several prominent venture capital funds.
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