Zymeworks signs $813 million licensing deal with Roche
Key points
- Zymeworks entered an exclusive global licensing and collaboration agreement with Roche for ZW209, an investigational trispecific T-cell engager targeting DLL3, including a $55 million upfront payment.
- The agreement provides for a potential $40 million Phase 1b milestone and up to $718 million in additional milestones, bringing the total potential payments to $813 million before royalties.
- Roche will fund the Phase 1a monotherapy trial and manage subsequent global development and commercialization, subject to completion of regulatory closing requirements.
Zymeworks (NASDAQ:ZYME) entered an exclusive global license and collaboration agreement with Roche for its experimental cancer treatment ZW209, with a $55 million upfront payment.
The agreement offers Zymeworks up to $813 million in total potential payments, including a $40 million milestone tied to Phase 1b trial initiation and $718 million in additional milestones.
ZW209 is a trispecific T-cell engager designed to target DLL3 while engaging CD3 and CD28 receptors involved in immune-cell activation.
Roche will finance the Phase 1a monotherapy trial conducted by Zymeworks in collaboration with Roche and assume responsibility for subsequent global development and commercialization.
The transaction remains subject to the Hart-Scott-Rodino antitrust waiting period and any other applicable regulatory approvals.
Zymeworks is also eligible for tiered royalties ranging from high-single-digit to mid-teen percentages of future net sales of approved products arising from the collaboration.
The FDA has cleared ZW209 to begin clinical testing, and Zymeworks plans additional regulatory submissions to support trial sites outside the United States.
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