Zymeworks earns $1 million milestone from Daiichi Sankyo
Canada’s Zymeworks (NYSE: ZYME) and Japan’s Daiichi Sankyo (TYO: 4568) have announced the successful achievement of a research milestone for an immuno-oncology bispecific antibody therapeutic candidate in their collaboration.
In conjunction with this milestone achievement, Zymeworks is to receive a milestone payment of $1 million dollars from Daiichi Sankyo under the terms of the deal announced in September 2016.
Zymeworks granted Daiichi Sankyo a license to Zymeworks’ Azymetric and EFECT platforms to develop a bispecific antibody therapeutic for which Zymeworks is eligible to receive preclinical, clinical and commercial milestone payments, as well as up to double-digit tiered royalties on global product sales. Additionally, Zymeworks obtained a license to certain immuno-oncology antibodies from Daiichi Sankyo, with the right to research, develop and commercialize multiple bispecific products globally in exchange for royalties on global product sales.
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