Celgene invests $10 mln in Zymeworks as part of new strategic partnership
Zymeworks Inc has partnered with U.S.-based Celgene Corp on the research, development, and commercialization of bi-specific antibody therapeutics enabled by Zymeworks' product platform. Celgene will have the option to advance the resulting therapeutic candidates, while Zymeworks will receive an undisclosed initial upfront payment. According to a U.S. regulatory filing, Celgene has also invested $10 million in the company. The entire transaction may give Zymeworks up to US$164 million per therapeutic candidate, as well as royalties on net sales. The Vancouver-based company is backed by CTI Life Sciences, Advanced Biotechnologies Venture Fund and the Fonds de solidarité FTQ.
21 January 2015•3 mins read
