Zymeworks stock surges on $813M Roche licensing deal

What happened: Zymeworks Inc (NASDAQ:ZYME) announced a global license and collaboration agreement with Roche for ZW209, a T cell engager targeting DLL3, worth up to $813 million. Key numbers: $55 million upfront payment; $40 million upon Phase 1b trial initiation; up to $718 million in Why it matters: Roche will fund the Phase 1a trial and assume responsibility for subsequent global development and commercialization, with exclusive rights to develop and commercialize ZW209 globally. The deal remains subject to Hart-Scott-Rodino waiting period expiration and other closing conditions.

Zymeworks Inc (NASDAQ:ZYME) announced a global license and collaboration agreement with Roche for ZW209, a T cell engager targeting DLL3, worth up to $813 million.

Roche will fund the Phase 1a trial and assume responsibility for subsequent global development and commercialization, with exclusive rights to develop and commercialize ZW209 globally. The deal remains subject to Hart-Scott-Rodino waiting period expiration and other closing conditions.