October 23, 2014
By Riley McDermid, BioSpace.com Breaking News Staff
Global healthcare conglomerate Eli Lilly and Co. said today will give smaller Canadian biotech Zymeworks Inc. $375 million to expand their existing licensing and collaboration agreement as the firm broadens its research into antibody therapies.
Originally announced in January 2014, the partnership has been focused on the development of an undisclosed number of novel bi-specific antibody therapeutics using Zymeworks’ proprietary Azymetric platform.
Now, however, Lilly will add $375 million in milestones and other payments, plus tiered sales royalties based on country-by-country intellectual property. It will also include sales of the development of several immuno-modulatory bi-specific antibodies against multiple targets.
As part of the deal, Vancouver-based Zymeworks will receive an initial up-front payment in the form of an equity investment. The rest of the funding will come after it reaches milestones in the development and commercial research and rollout in the United States, Japan and globally. Further financial terms were not disclosed.
Bi-specific antibodies have the potential to provide improved outcomes for patients by simultaneously targeting two proteins resulting in additive or synergistic responses. They are of particular interest in clinicians fighting cancer, because they can help control the immune system’s response to disease.
“We are pleased to expand our collaboration with Zymeworks to develop potential immunotherapies for those fighting cancer around the world. There are many targets involved in the controlled activation and redirection of the immune system and we know that immunotherapies will not be a one-size-fits-all treatment,” said Sue Mahony, senior vice president and president, Lilly Oncology.
“In addition to immunotherapy programs, Lilly has a robust oncology pipeline that includes both small molecules and monoclonal antibodies, which are being studied to treat a wide range of cancers,” said Mahony.
