Zymeworks, J&J in bispecific antibodies deal

Zymeworks Inc. (NYSE:ZYME; TSX:ZYME) granted the Janssen Biotech Inc. unit of Johnson & Johnson (NYSE:JNJ) worldwide rights to develop and commercialize up to six bispecific antibodies against Janssen's targets using Zymeworks’ antibody platforms. Janssen will gain non-exclusive access to Zymeworks’ Azymetric bispecific antibody discovery and Effector Function Enhancement and Control Technology (EFECT) platforms.

Zymeworks will receive $50 million up front and is eligible to receive $282 million in development and $1.1 billion in commercialization milestones, plus tiered royalties. Janssen will be responsible for all R&D and commercialization, and has the option to develop two additional bispecific programs for an undisclosed payment...