Zymeworks (NYSE:ZYME) inks an agreement with Johnson & Johnson (NYSE:JNJ) unit Janssen Biotech granting it a global license to research, develop and commercialize up to six bispecific antibodies based on ZYME's Azymetric and EFECT platforms.
Under the terms of the deal, ZYME will receive $50M upfront, up to $282M in development milestones, up to $1.12B in commercial milestones and tiered royalties on net sales. Janssen has the option to develop two additional bispecific programs subject to a future option payment.
A bispecific antibody can simultaneously bind to two different types of antigen.
