Benzinga | Dec 1, 2021 08:34AM EST

Zymeworks Reports Its Second J&J's Janssen Bispecific Antibody To Begin Clinical Development Utilizing Azymetric, EFFECT Therapeutic Platforms

Zymeworks Inc. (NYSE:ZYME), a clinical-stage biopharmaceutical company developing multifunctional biotherapeutics, today announced that Janssen Biotech, Inc. ("Janssen") dosed the first patient with JNJ-78306358, a bispecific antibody developed using Zymeworks' Azymetric(tm) and EFECT(tm) therapeutic platforms. This is the second Janssen bispecific program utilizing Zymeworks' proprietary technology platforms to enter the clinic this year, following the announcement in August of Janssen's dosing of the first patient with JNJ-78278343.

"At Zymeworks, we are delighted to see our collaborator's therapies reaching patients in the clinic, and we extend our congratulations to everyone at Janssen on this achievement," said Ali Tehrani, Ph.D., Zymeworks' President & CEO. "Today, our therapeutic platforms are being leveraged through strategic partnerships with nine biopharmaceutical companies, with a total of six novel therapeutics having entered clinical development to date."

Zymeworks will receive a payment in connection with this milestone under Zymeworks' 2017 licensing agreement with Janssen. Under the terms of that agreement, Zymeworks provided Janssen with a worldwide, royalty-bearing license to research, develop and commercialize up to six bispecific antibodies directed to Janssen therapeutic targets using Zymeworks' Azymetric and EFECT platforms. Janssen is responsible for all research, development, and commercial activities under the licensing agreement. Zymeworks received an upfront payment of US$50 million and is eligible to potentially receive up to US$282 million in development milestone payments and up to US$1.12 billion in commercial milestone payments, as well as tiered royalties on potential sales.