Merck (NYSE:MRK) inks an agreement with longtime partner Zymeworks (NYSE:ZYME) for a global license to develop and commercialize up to three multispecific antibodies to Merck targets in the animal health field using ZYME’s Azymetric and EFECT platforms.
Under the terms of the deal, ZYME will receive an undisclosed upfront payment and, if each program yields an approved product, up to $411M in option exercise fees, up to $480M in milestones and tiered royalties on net sales.
The companies have been working together since 2011 to develop bispecific antibodies. They expanded their partnership in 2014. The new agreement does not affect the original.
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