Zymeworks and Innovative Targeting Solutions Enter Collaboration and License Agreement to Advance Biotherapeutics Research and Development
August 11, 2016
Vancouver, Canada (August 11, 2016) – Zymeworks Inc. and Innovative Targeting Solutions (ITS) today announced that they have entered into a research collaboration, which will complement Zymeworks’ efforts in the discovery, research, and development of novel biotherapeutics. Under the terms of the collaboration, Zymeworks will in-license and integrate ITS’ proprietary HuTARG platform to help identify and develop therapeutics directed towards challenging disease targets.
Ali Tehrani, Ph.D., President and CEO of Zymeworks, stated, “We view the HuTARG platform as a leading technology for the discovery and generation of therapeutic antibodies. This further strengthens our in-house antibody discovery capabilities and accelerates the development of Zymeworks’ novel bi-specific and multi-functional biologics and drug conjugates.”
HuTARG is a first-in-class protein engineering platform and represents a disruptive technology in the field. It is the first fully mammalian technology that generates antibody diversity in vitro via RAG1/RAG2 mediated V(D)J recombination, allowing for the generation and affinity maturation of highly potent protein-based biologics.
Michael Gallo, Ph.D., President of Innovative Targeting Solutions Inc., remarked, “Zymeworks is a leader in the development of innovative biotherapeutics. Together with our first-in-class protein engineering technology, they will be able to discover novel medicines that can transform the lives of people with grievous illnesses.”
Under the agreement, Zymeworks will pay a technology licensing fee to integrate and use the HuTARG platform. In addition, ITS will receive, on a per product basis upon successful development and commercialization, up to USD$65 million in clinical and commercial milestones and low single-digit royalties on net sales. Additional financial terms have not been disclosed.
About Innovative Targeting Solutions Inc.
Founded in 2008, Innovative Targeting Solutions Inc. is a privately-held company that has developed a next generation protein engineering platform for the generation of fully human antibody and T cell receptor based therapeutics using its proprietary HuTARG technology. The HuTARG technology is a fully mammalian technology that generates antibody diversity in vitro via RAG1/RAG2 mediated V(D)J recombination. For more information, visit www.innovativetargeting.com.
About Zymeworks Inc.
Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases. The company’s novel Azymetric™, AlbuCORE™, and EFECT™ platforms, its Zymelink™ conjugation platform and cytotoxins, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies, multivalent protein therapeutics, and antibody drug conjugates across a range of indications. Zymeworks is focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found at www.zymeworks.com.
Innovative Targeting Solutions Contact:
Hayley Judge
Consultant
Hill+Knowlton Strategies
(604) 692-4230
Hayley.judge@hkstrategies.ca
Zymeworks Contacts:
Media Inquiries
Michael Lampe
(484) 575-5040
michael@scientpr.com
Investor Inquiries
Stephanie Carrington
ICR Inc.
(646) 277-1282
stephanie.carrington@icrinc.com
Zymeworks Inc.
David Poon, Ph.D.
Executive Director, External R&D and Alliances
(604) 678-1388
bd@zymeworks.com