VANCOUVER, Sept. 6, 2012 /CNW/ - Zymeworks Inc. today announced the
successful achievement of a research milestone in its collaboration
with Merck, known as MSD outside of the United States and Canada,
related to Zymeworks' proprietary Azymetric™ platform for the
development of novel bi-specific antibody therapeutic candidates. In
conjunction with the terms of the collaboration agreement, Zymeworks is
to receive an undisclosed milestone payment from Merck.
"We are extremely pleased with the collaboration's progress, which was
made possible by both teams' dedication and hard work," said Dr. Ali
Tehrani, President & CEO of Zymeworks. "Commercial research
collaborations with world class companies like Merck, combined with
internal breakthroughs and achievements, will continue to position the
Azymetric™ platform as one of the leading bi-specific formats available
today. We look forward to advancing the collaboration with Merck as we
continue to focus on translating world-class protein engineering into
therapeutics for patients with unmet medical needs."
Under the terms of the agreement Zymeworks granted Merck, through a
subsidiary, a worldwide license to develop and commercialize
bi-specific antibodies generated through use of the Azymetric™ platform
toward certain exclusive therapeutic targets. Both companies will
collaborate to advance the technology platform, with Merck working to
progress the bi-specific therapeutic antibody candidates through
clinical development. Zymeworks received an upfront fee and is eligible
to receive research, development and regulatory milestones with a
potential value of up to US $187 million, as well as tiered royalty
payments on sales of products. Merck will have exclusive worldwide
commercialization rights to products derived from the collaboration.
About Zymeworks Inc.
Zymeworks is a privately held biotechnology company that is developing
best-in-class antibody therapeutics for the treatment of oncology,
autoimmunity and inflammatory diseases. The company's proprietary
ZymeCAD™ structure-guided protein engineering technology and its novel
Azymetric™ and AlbuCORE™ platforms enable the development of highly
potent bi-specific antibodies and multivalent protein therapeutics
targeted across a range of indications. Zymeworks is focused on growing
its preclinical biotherapeutics pipeline through in-house research and
development programs and strategic collaborations. More information on
Zymeworks can be found at www.zymeworks.com.
SOURCE: Zymeworks Inc.
For further information:
David Poon, Ph.D.
Associate Director, Business Development