MONTRÉAL, Canada & VANCOUVER, Canada--(BUSINESS WIRE)--The Fonds de solidarité FTQ, a Québec-based development capital fund, today announced an investment of $4 million in common shares of Zymeworks Inc., a biotherapeutics company focused on the development of best-in-class bi-specific antibodies and antibody drug conjugates (“ADCs”) for the treatment of cancer. Zymeworks has significant research activities in Québec and this investment by the Fonds de solidarité FTQ once again demonstrates its long-standing commitment to Québec’s health sciences sector while supporting first-class enterprises.
“We are excited to welcome the Fonds de solidarité FTQ as an investor in Zymeworks,” said Ali Tehrani, Ph.D., President & CEO of Zymeworks. “This investment will continue to support Zymeworks’ commitment to the health sciences and biotechnology sectors in Québec and across Canada. We have always believed that Québec is home to numerous top-notch research and development facilities and skilled research personnel, and we’re proud to strengthen Zymeworks’ key relationships within the province as we continue to advance ground-breaking therapies for patients with significant unmet medical needs.”
“The economic benefits of Zymeworks’ research and development activities in Québec are undeniable. This is another acknowledgement by the industry of Québec’s biotechnology expertise. As the Company’s internal development programs and partnerships expand, Québec will continue to reap the benefits. By investing in Zymeworks, the Fonds de solidarité FTQ pursues its disciplined strategy of supporting the life sciences sector, while ensuring positive economic outcomes for Québec,” declared Alain Denis, Senior Vice-President, New Economy, at the Fonds de solidarité FTQ.
Zymeworks is developing several bi-specific antibody therapeutics in the field of oncology with anticipated IND filings beginning in 2016. One of Zymeworks’ lead candidates, ZW25, is an anti-HER2 bi-specific antibody for the treatment of breast and gastric cancers and is potentially beneficial for patients with low-HER2 expressing tumours who currently do not qualify for HER2-directed therapies.
Zymeworks uses a network of best-in-class global collaborative partners to advance its therapeutics pipeline. Zymeworks’ strong presence in Québec is exemplified by its ongoing multi-million dollar strategic collaboration with the National Research Council of Canada (NRC) where Zymeworks gains access to NRC’s unique expertise, scientific facilities, and know-how to complement Zymeworks’ drug development capabilities.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.1 billion as of May 31, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With 613,958 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
About Zymeworks Inc.
Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of oncology, autoimmunity and inflammatory diseases. The company’s novel Azymetric™ and AlbuCORE™ platforms, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies and multivalent protein therapeutics targeted across a range of indications. Zymeworks is focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found at www.zymeworks.com.