Zymeworks gets second milestone from Merck & Co under Azymetric platform accord

18 April 2013

Privately-held Canadian biotech firm Zymeworks announced the successful achievement of a second research milestone in its collaboration with US pharma giant Merck & Co (NYSE: MRK) 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.

“Merck continues to be a world-class partner and we are excited about the progress of our collaboration,” said Ali Tehrani, president and chief executive of Zymeworks, adding: “On the heels of the previous milestone announced in September 2012, this milestone is a testament to the strength of the Azymetric platform for the development of best-in-class bi-specific antibodies. We look forward to advancing our collaboration with Merck and in parallel, leveraging the Azymetric platform in the development of additional therapeutic candidates.”

Part of a $187 million accord

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