Zymeworks announced today that it had landed its second licensing deal with a big pharma player but entering into an agreement with Lilly's Imclone group. The deal will give Imclone access to the Azymetric platform for making bispecific antibodies to an undisclosed number of cancer targets. Any Lilly products that make it to market will result in further milestone and royalty payments. The upfront payment was undisclosed.
This is Zymeworks second licensing deal. The first with Merck was announced in 2011 and is worth up to $187 M in upfront and milestones, plus royalties upon commercialization. Additionally, Zymeworks said that it had raised another $15 M from its investors to help push its own candidates through its clinical pipeline. See Fierce Biotech and Xconomy stories.
Posted by Bruce Lehr Jan 9th 2014