Zymeworks To Host Conference Call on Exclusive Licensing Agreement of Zanidatamab
October 19 2022 - 6:07AM
Business Wire
- Jazz Pharmaceuticals to obtain exclusive development and
commercialization rights in key markets including the U.S., Europe
and Japan
- Zymeworks to receive $50 million upfront payment, a second
payment of $325 million, at Jazz’s option, and further potential
regulatory and commercial milestones for total potential payments
of up to $1.76 billion
- Webcast beginning today at 8:00 am Eastern Standard Time
(EST)
Zymeworks Inc. (“Zymeworks” or the “Company”) (NYSE: ZYME), a
clinical-stage biopharmaceutical company developing multifunctional
biotherapeutics, today announced that management will host a
conference call and webcast to discuss Zymeworks has entered into
an exclusive licensing agreement for zanidatamab, a HER2-targeted
bispecific antibody developed using Zymeworks’ proprietary
Azymetric™ platform, with Jazz Pharmaceuticals plc
(NASDAQ:JAZZ).
Conference Call for Investors and Analysts
Zymeworks management will host a conference call and webcast for
investors and analysts on October 19 at 8:00 am EST. The event will
be webcast live with dial-in details and webcast replays available
on Zymeworks’ website at
http://ir.zymeworks.com/events-and-presentations.
About Zanidatamab
Zanidatamab is a bispecific antibody, based on Zymeworks’
Azymetric™ platform, that can simultaneously bind two
non-overlapping epitopes of HER2, known as biparatopic binding.
This unique design results in multiple mechanisms of action
including dual HER2 signal blockade, increased binding, and removal
of HER2 protein from the cell surface, and potent effector function
leading to encouraging antitumor activity in patients. Zymeworks is
developing zanidatamab in multiple Phase 1, Phase 2, and pivotal
clinical trials globally as a targeted treatment option for
patients with solid tumors that express HER2.
About Zymeworks Inc.
Zymeworks is a clinical-stage biopharmaceutical company
dedicated to the discovery, development and commercialization of
next-generation multifunctional biotherapeutics. Zymeworks’ suite
of therapeutic platforms and its fully integrated drug development
engine enable precise engineering of highly differentiated product
candidates. Zymeworks’ lead clinical candidate, zanidatamab, is a
novel Azymetric™ HER2-targeted bispecific antibody currently being
evaluated in multiple Phase 1, Phase 2, and pivotal clinical trials
globally as a targeted treatment option for patients with solid
tumors that express HER2. Zymeworks’ second clinical candidate,
zanidatamab zovodotin (ZW49), is a novel bispecific HER2 ‑targeted
antibody-drug conjugate currently in Phase 1 clinical development
and combines the unique design and antibody framework of
zanidatamab with Zymeworks’ proprietary ZymeLink™ linker and
cytotoxin. Zymeworks is also advancing a deep preclinical pipeline
in oncology (including immuno-oncology agents) and other
therapeutic areas. In addition, its therapeutic platforms are being
leveraged through strategic partnerships with global
biopharmaceutical companies. For more information on our ongoing
clinical trials visit www.zymeworksclinicaltrials.com. For
additional information about Zymeworks, visit www.zymeworks.com and
follow @ZymeworksInc on Twitter.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements” or
information within the meaning of the applicable securities
legislation, including Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements in this press release
include, but are not limited to, statements that relate to the
potential therapeutic effects and commercial potential of
zanidatamab, zanidatamab zovodotin and Zymeworks’ other product
candidates; Zymeworks’ clinical development of its product
candidates and enrollment in its clinical trials; anticipated
clinical data presentations; Zymeworks’ ability to achieve
milestones and receive payments from Jazz pursuant to the
agreement; and other information that is not historical
information. When used herein, words such as “believes”, “future”,
“anticipate”, “approximately”, “will”, “plans”, “may”, “potential”,
and similar expressions are intended to identify forward-looking
statements. In addition, any statements or information that refer
to expectations, beliefs, plans, projections, objectives,
performance or other characterizations of future events or
circumstances, including any underlying assumptions, are
forward-looking. All forward-looking statements are based upon
Zymeworks’ current expectations and various assumptions. Zymeworks
believes there is a reasonable basis for its expectations and
beliefs, but they are inherently uncertain. Zymeworks may not
realize its expectations, and its beliefs may not prove correct.
Actual results could differ materially from those described or
implied by such forward-looking statements as a result of various
factors, including, without limitation: the impact of the COVID-19
pandemic on Zymeworks’ business, research and clinical development
plans and timelines and results of operations, including impact on
its clinical trial sites, collaborators, and contractors who act
for or on Zymeworks’ behalf, may be more severe and more prolonged
than currently anticipated; clinical trials may not demonstrate
safety and efficacy of any of Zymeworks’ or its collaborators’
product candidates; any of Zymeworks’ or its partners’ product
candidates may fail in development, may not receive required
regulatory approvals, or may be delayed to a point where they are
not commercially viable; Zymeworks may not achieve milestones or
receive additional payments under its collaborations; regulatory
agencies may impose additional requirements or delay the initiation
of clinical trials; the impact of new or changing laws and
regulations; market conditions; inability to maintain or enter into
new partnerships or strategic collaborations and the factors
described under “Risk Factors” in Zymeworks’ quarterly and annual
reports filed with the Securities and Exchange Commission,
including its Quarterly Report on Form 10-Q for its quarter ended
June 30, 2022 (a copy of which may be obtained at www.sec.gov and
www.sedar.com).
Although Zymeworks believes that such forward-looking statements
are reasonable, there can be no assurance they will prove to be
correct. Investors should not place undue reliance on
forward-looking statements. The above assumptions, risks and
uncertainties are not exhaustive. Forward-looking statements are
made as of the date hereof and, except as may be required by law,
Zymeworks undertakes no obligation to update, republish, or revise
any forward-looking statements to reflect new information, future
events or circumstances or to reflect the occurrences of
unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20221019005341/en/
Investor inquiries: Jack Spinks Associate Director,
Investor Relations ir@zymeworks.com (604) 678-1388
Media inquiries: Diana Papove Senior Manager, Corporate
Communications media@zymeworks.com (604) 678-1388
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