Zymeworks Licenses DLL3 T Cell Engager ZW209 to Roche With $55M Upfront
ZYME sits 81% above its 52-week low of $16.003.
Summary
Zymeworks handed Roche exclusive global rights to ZW209, its trispecific DLL3-targeting T cell engager, collecting $55M upfront and another $40M when the Phase 1b trial starts. The deal carries up to $718M in development, commercial and sales milestones plus tiered high single digit to mid-teen royalties on any approved product. Roche funds the Phase 1a monotherapy trial and takes over global development and commercialization, so Zymeworks keeps a stake in the upside while offloading the expensive later-stage risk. This is the second major validation this year after the August FDA approval of Ziihera, which triggered a $250M Jazz milestone, and it comes as Zymeworks digests its $929M Theravance acquisition. The company hosts an investor call on October 27 at 8:30 am ET to discuss the transaction.
At the time of this announcement, ZYME was trading at $28.99 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2B. The 52-week trading range was $16.00 to $31.34. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.