VANCOUVER, Aug. 11, 2016 /CNW/ - Zymeworks Inc. and Innovative Targeting Solutions (ITS) today announced that they have entered into a research collaboration, which will complement Zymeworks' efforts in the discovery, research, and development of novel biotherapeutics. Under the terms of the collaboration, Zymeworks will in-license and integrate ITS' proprietary HuTARG™ platform to help identify and develop therapeutics directed towards challenging disease targets.
Ali Tehrani, Ph.D., President and CEO of Zymeworks, stated, "We view the HuTARG™ platform as a leading technology for the discovery and generation of therapeutic antibodies. This further strengthens our in-house antibody discovery capabilities and accelerates the development of Zymeworks' novel bi-specific and multi-functional biologics and drug conjugates."
HuTARG™ is a first-in-class protein engineering platform and represents a disruptive technology in the field. It is the first fully mammalian technology that generates antibody diversity in vitro via RAG1/RAG2 mediated V(D)J recombination, allowing for the generation and affinity maturation of highly potent protein-based biologics.
Michael Gallo, Ph.D., President of Innovative Targeting Solutions Inc., remarked, "Zymeworks is a leader in the development of innovative biotherapeutics. Together with our first-in-class protein engineering technology, they will be able to discover novel medicines that can transform the lives of people with grievious illnesses."
Under the agreement, Zymeworks will pay a technology licensing fee to integrate and use the HuTARG™ platform. In addition, ITS will receive, on a per product basis upon successful development and commercialization, up to USD$65 million in clinical and commercial milestones and low single-digit royalties on net sales. Additional financial terms have not been disclosed.
About Innovative Targeting Solutions Inc.
Founded in 2008, Innovative Targeting Solutions Inc. is a privately-held company that has developed a next generation protein engineering platform for the generation of fully human antibody and T cell receptor based therapeutics using its proprietary HuTARG™ technology. The HuTARG™ technology is a fully mammalian technology that generates antibody diversity in vitro via RAG1/RAG2 mediated V(D)J recombination. For more information, visit www.innovativetargeting.com.
About Zymeworks Inc.
Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases. The company's novel Azymetric™, AlbuCORE™, and EFECT™ platforms, its Zymelink™ conjugation platform and cytotoxins, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies, multivalent protein therapeutics, and antibody drug conjugates across a range of indications. Zymeworks is focused on accelerating 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 Innovative Targeting Solutions Inc.
For further information: Innovative Targeting Solutions Contact: Hayley Judge, Consultant, Hill+Knowlton Strategies, 604-692-4230, [email protected]; Zymeworks Contacts: Media Inquiries: Michael Lampe, (484) 575-5040, [email protected]; Investor Inquiries: Stephanie Carrington, ICR Inc., (646) 277-1282, [email protected], Zymeworks Inc.: David Poon, Ph.D., Executive Director, External R&D and Alliances, (604) 678-1388, [email protected]