Jazz licenses zanidatamab from Zymeworks for up to $1.76B; $50M upfront, $325M option payment

Jazz Pharmaceuticals plc

Exclusive rights in U.S., Europe, Japan for HER2-targeted bispecific antibody zanidatamab.
Zymeworks eligible for $50M upfront, $325M option payment after HERIZON-BTC-01 data, plus up to $1.39B milestones.
Tiered royalties of 10%-20% on net sales; deal expected to close in 2022 subject to HSR clearance.
Zanidatamab in pivotal trials for biliary tract cancer and gastroesophageal adenocarcinoma.
FDA Breakthrough Therapy and Fast Track designations; top-line BTC data expected by end of 2022.

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