Zymeworks announced a collaboration and licensing agreement with Celgene for the research, development, and commercialization of bi-specific antibody therapeutics enabled using Zymeworks’ proprietary Azymetric platform.
Zymeworks and Celgene will collaborate on the research and development of multiple bi-specific antibodies based on the Azymetric platform.
Celgene will have the option to advance the resulting bi-specific candidates through clinical development and subsequent commercialization.
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Zymeworks will receive an initial upfront payment, as well as an equity investment from Celgene.
Zymeworks is eligible to receive clinical, regulatory, and commercial milestones on successful candidates totaling up to US $164M per therapeutic candidate.
Additionally, Zymeworks will receive royalties on worldwide net sales.
Further financial details are not disclosed.
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