Celgene, Zymeworks partner on bispecific antibodies

Celgene Corp. (NASDAQ:CELG) and Zymeworks Inc. (Vancouver, B.C.) entered a multi-year collaboration to develop and commercialize bispecific antibodies using Zymeworks' Azymetric platform. Celgene will receive options to advance an undisclosed number of therapeutic candidates through clinical trials and commercialization.

Zymeworks will receive a C$10 million ($8.4 million) equity investment and an undisclosed upfront payment from Celgene, and is eligible for up to $164 million in milestones per candidate, plus royalties. ...