VANCOUVER, British Columbia--(BUSINESS WIRE)--Zymeworks Inc. today announced the successful achievement of a research milestone in its collaboration with Eli Lilly and Company in the development of a novel immune-modulating bi-specific antibody using Zymeworks’ proprietary Azymetric™ platform. In accordance with the terms of the licensing and collaboration agreement, Zymeworks is to receive an undisclosed milestone payment from Lilly.
“We are excited to be part of this collaboration with Lilly, and with the progress of the research as Lilly works to bring novel immunotherapies towards the clinic,” said Dr. Ali Tehrani, President & CEO of Zymeworks. “We believe that the achievement of this successful milestone further demonstrates the value of the Azymetric™ platform in the development of leading-edge bi-specific antibody therapeutics, and we look forward to the continued advancement of other therapeutic programs under our agreements with Lilly.”
Under the terms of the agreement, Zymeworks has granted Lilly a worldwide license to the Azymetric™ platform to develop and commercialize several bi-specific therapeutic candidates toward Lilly’s therapeutic targets. Zymeworks received an upfront fee and research support for this program and is eligible to receive further development and commercial milestones as well as tiered royalty payments on future product sales with Lilly having exclusive worldwide commercialization rights.
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 cancer, autoimmune and inflammatory diseases. The company’s novel Azymetric™, AlbuCORE™, and EFECT™ platforms, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies and multivalent protein therapeutics 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.