---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-239601"
form_type: "8-K"
ticker: "ZYME"
cik: "0001937653"
company_name: "Zymeworks Inc."
filed_at: "2023-09-21T23:59:59+00:00"
generated_at: "2026-06-10T11:19:56.199564+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-239601
- form_type: 8-K
- ticker: ZYME
- cik: 0001937653
- company_name: Zymeworks Inc.
- filed_at: 2023-09-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1937653/000119312523239601/0001193125-23-239601-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1937653/000119312523239601/d549533d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-239601
- JSON: https://secwatch.observer/filing/0001193125-23-239601.json
- Plain text: https://secwatch.observer/filing/0001193125-23-239601.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1937653/000119312523239601/0001193125-23-239601-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.