Zymeworks achieves $14M milestone from GSK

Zymeworks (ZYME) announced achievement of a $14M cash research milestone from GSK (GSK) associated with a clinical milestone. “In April 2016, we entered into a platform technology transfer and license agreement with GSK to research, develop and commercialize up to six bispecific antibodies generated using our Azymetric platform. Under the terms of this agreement, we granted GSK a worldwide, royalty-bearing antibody sequence pair-specific exclusive license to research, develop and commercialize licensed products. In May 2019, this agreement was expanded to provide GSK access to Zymeworks’ unique heavy-light chain pairing technology under the Azymetric platform. Under the terms of this expanded collaboration agreement with GSK, we previously received an upfront technology access fee payment, and we remain eligible to receive research, development, and commercial milestone payments of up to $1.1 billion. In addition, we are eligible to receive tiered royalties on worldwide sales.”