Zymeworks (NYSE, TSX:ZYME) and Daiichi Sankyo entered into a new license agreement, building on their 2016 cross-licensing and collaboration agreement.
“With a successful track record and our first bispecific antibody incorporating the Azymetric and EFECT technology having achieved a key research milestone in 2017, we look forward to adding two more bispecific compounds to our pipeline,” Dr. Antoine Yver, executive VP and global head, oncology research and development of Daiichi Sankyo, said in a statement.
“We are exceptionally impressed with the robust impact that Zymeworks’ technology brings to antibody development,” he added.
Under terms of the second accord, Zymeworks will receive an upfront technology access fee of $18-million and may receive up to $466.7-million in potential clinical, regulatory and commercial milestone payments. In addition, Zymeworks will receive up to double-digit tiered royalties on global product sales.
“Expanding our relationship with a leading global pharmaceutical partner like Daiichi Sankyo is extremely satisfying as it underscores the power, versatility, and attractiveness of our technology platforms,” Ali Tehrani, president and CEO of Zymeworks said.
“Having already used our platforms to discover one bispecific antibody, Daiichi Sankyo now has increased access to our technology to create additional therapeutic candidates,” he added.
