VC-backed Zymeworks closes private placement at $17.3 mln
Biotherapeutic company Zymeworks Inc recently closed its previously announced funding at a gross amount of around $17.3 million. The investment came from a mix of new and existing backers. Zymeworks’ venture capital investors include Advanced Biotechnologies Venture Fund and CTI Life Sciences Fund. Concurrent with the deal announcement, Zymeworks said it has expanded a strategic collaboration with Eli Lilly and Co (NYSE: LLY) to develop novel bi-specific antibody therapeutics using its platform. The potential US$375 million partnership will include an equity investment by Eli Lilly in the Vancouver-based company.
3 November 2014•2 mins read
