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LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Zymeworks Inc. (NYSE: ZYME), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ZYME. The Company announced on November 13, 2017, that it has entered into a licensing agreement with Janssen Biotech, Inc., one of the pharmaceutical Companies of Johnson & Johnson, to develop and commercialize next generation bispecific antibody therapeutics. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Terms of Licensing Agreement
- Janssen Biotech will obtain a worldwide, royalty-bearing license from Zymeworks to research, develop, and commercialize up to six bispecific antibodies directed to Janssen Biotech's therapeutic targets using Zymeworks' Azymetric™ and EFECT™ platforms. The former will be responsible for all research, development, and commercial activities.
- Janssen Biotech will be liable to make an upfront payment of US$50 million to Zymeworks, potentially climbing up to US$282 million in development and up to US$1.12 billion in commercial milestone payments, and tiered royalties on potential sales.
- As per the agreement, Janssen Biotech also has the option to develop two additional bispecific programs under the agreement subject to a future option payment.
Collaboration to be Primarily Used to Fund Clinical Advancement of ZW25
Dr. Ali Tehrani, President and Chief Executive Officer (CEO) of Zymeworks, stated that the Company is very pleased to be partnering with Janssen Biotech and their world-class scientists, marking Zymeworks' sixth major pharmaceutical partnership and the first since its wholly-owned bispecific product candidate ZW25, which is enabled with the Azymetric™ platform, entered clinical trials. Tehrani added that the proceeds from this collaboration will be primarily used to fund the clinical advancement of ZW25, as well as the advancement of the Company's preclinical programs into the clinic.
Zymeworks Licensing Deal with Merck
On September 19, 2017, Merck provided formal notification of their plans to advance a bispecific drug candidate into preclinical development. The drug candidate was developed by Merck, through a subsidiary, in collaboration with Zymeworks, using Zymeworks' proprietary Azymetric™ and EFECT™ platforms as part of an existing Research and License Agreement between the two Companies. As per the terms of the Research and License Agreement, Zymeworks granted Merck a worldwide, royalty-bearing license to research, develop, and commercialize certain bispecific therapeutic candidates toward Merck's therapeutic targets.
About Azymetric™ and EFECT™ Platforms
The Azymetric™ platform enables the transformation of monospecific antibodies into bispecific antibodies, which gives them the ability to simultaneously bind two different targets. The EFECT™ platform is a library of antibody Fc modifications engineered to modulate the activity of the antibody-mediated immune response, which includes both the up- and down-regulation of effector functions.
About Zymeworks Inc.
Founded in 2003, Zymeworks is a clinical-stage biopharmaceutical Company that develops best-in-class Azymetric™ bispecific antibodies and antibody-drug conjugates for the treatment of oncology, autoimmunity, and inflammatory diseases. The Company's lead product candidate, ZW25, is a novel bispecific antibody currently being evaluated in an adaptive Phase-1 clinical trial. Zymeworks is headquartered in Vancouver, Canada.
About Janssen Biotech, Inc.
Established in 1992, Janssen Biotech is a biopharmaceutical Company specializing in the development and commercialization of therapeutic products for patients and the healthcare community. The Company operates as a subsidiary of Johnson & Johnson.
Last Close Stock Review
At the closing bell, on Tuesday, November 14, 2017, Zymeworks' stock climbed 2.10%, ending the trading session at $8.75. A total volume of 121.87 thousand shares have exchanged hands, which was higher than the 3-month average volume of 14.18 thousand shares. The Company's stock price surged 14.53% in the last three months. The stock currently has a market cap of $225.93 million.
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