Zymeworks terminates ZW49 collaboration with BeiGene; ZW25 royalties reduced 0.5% until low double-digit million cap

Zymeworks Inc.

Termination of ZW49 license with BeiGene ends potential $195M milestones and high single-digit to 20% royalties in Asia, Australia, NZ.
Rights to zanidatamab zovodotin (ZW49) revert to Zymeworks.
Third Amendment to ZW25 deal reduces royalties by 0.5% until cumulative cap (low double-digit millions) reached.
No other changes to ZW25 agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Zymeworks Inc. terminated Zanidatamab Zovodotin License and Collaboration Agreement with BeiGene, Ltd. valued at up to $195 million in development and commercial milestone payments and royalties ranging from the h (effective 2023-09-18).

Action: termination
Agreement: license
Counterparty: BeiGene, Ltd.
Value: up to $195 million in development and commercial milestone payments and royalties ranging from the h
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, Zymeworks BC Inc. (“Zymeworks BC”), a subsidiary of Zymeworks Inc. (the “Company”), and BeiGene, Ltd. (“BeiGene”) entered into a Termination Agreement (the “Termination Agreement”) relating to the License and Collaboration Agreement between Zymeworks BC and BeiGene, relating to the research, development and commercialization of zanidatamab zovodotin (formerly known as ZW49), dated November 26, 2018, as amended on May 25, 2020 and June 2, 2021 (collectively, the “Zanidatamab Zovodotin License and Collaboration Agreement”).

View on SEC.gov

25 material agreements filed in the last 30 days. Browse all material agreements →

Zymeworks Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-239601

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.