Zymeworks licenses its Azymetric and EFECT platforms to Janssen

13 November 2017

Canadian biotech firm Zymeworks (TSX: ZYME) has added to its long list of collaborations with global pharma majors, signing a deal with Janssen Biotech that could be worth more than a billion dollars, with the news sending the company’s shares rocketing 31% to $9.00 in premarket trading this morning.

Under the terms of the licensing agreement, Zymeworks will provide Janssen, part of US healthcare giant Johnson & Johnson (NYSE: JNJJ), with a worldwide, royalty-bearing license to research, develop and commercialize up to six bispecific antibodies directed to Janssen therapeutic targets using Zymeworks’ Azymetric and EFECT platforms. Janssen will be responsible for all research, development, and commercial activities under the licensing agreement.

Deal includes $1.12 billion in commercial milestones

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