---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-084082"
form_type: "8-K"
ticker: "ZYME"
cik: "0001937653"
company_name: "Zymeworks Inc."
filed_at: "2026-03-02T23:59:59+00:00"
generated_at: "2026-05-15T22:49:11.419486+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Zymeworks secures $250M non-recourse royalty-backed note from Royalty Pharma on Ziihera royalties

## Summary
- Repayment from 30% of Ziihera tiered royalties; total due $412.5M if paid by Dec 2033 or $481.3M by Dec 2042.
- Zymeworks retains 70% of Ziihera royalties during repayment; full royalty rights revert after Royalty Pharma payments cease.
- Proceeds strengthen balance sheet non-dilutively, support share repurchases, strategic acquisitions, and cash runway beyond 2028.
- All regulatory and commercial milestones from Jazz and BeOne agreements (up to $1.5B potential) retained by Zymeworks.
- Transaction involves Royalty Pharma (RPRX) as lender; Covington, Gibson Dunn, Choate, Maiwald as legal advisors.

## SEC filing metadata
- accession: 0001193125-26-084082
- form_type: 8-K
- ticker: ZYME
- cik: 0001937653
- company_name: Zymeworks Inc.
- filed_at: 2026-03-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/0001193125-26-084082-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/d118476d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-084082
- JSON: https://secwatch.observer/filing/0001193125-26-084082.json
- Plain text: https://secwatch.observer/filing/0001193125-26-084082.txt

## Source-grounded claims
- claim_id: c9aac35b7ea1751d81acdc95ec3a618f9bffcc36
  claim: Zymeworks Inc. incurred term loan of $250.0 million with Royalty Pharma Development Funding, LLC at fixed rate maturing December 31, 2042.
  evidence_excerpt: Following the sale and transfer of the Royalty Interest, the Subsidiary entered into a Loan Agreement (the “ Loan Agreement ”), dated March 2, 2026, with Royalty Pharma as administrative agent and lender (in the capacity as lender under the Loan Agreement, the “ Lender ” and together with such other lenders party to the Loan Agreement from time to time the “ Lenders ”), pursuant to which the Lenders made a term loan to the Subsidiary (the “ Loan ”) in an aggregate principal amount of $250.0 million (the “ Loan Amount ”), that bears interest at a fixed rate and matures on December 31, 2042 (the “ Maturity Date ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/0001193125-26-084082-index.htm
- claim_id: 5498d05a7646dc1be90abf4096e3a0775b4c0063
  claim: Zymeworks Inc. entered into Sale Agreement with Royalty Pharma Development Funding, LLC valued at $250.0 million (effective 2026-03-02).
  evidence_excerpt: On March 2, 2026, Zymeworks BC Inc. (“ Zymeworks BC ”), a subsidiary of Zymeworks Inc. (the “ Company ”), entered into a sale agreement (the “ Sale Agreement ”) with Zymeworks Royalty Limited Partnership (the “ Subsidiary ”), a special purpose entity newly formed by Zymeworks BC and by its general partner Zymeworks General Partner ULC (“ Zymeworks GP ”), the Company solely for the purpose of certain indemnification provisions thereunder, and Royalty Pharma Development Funding, LLC (“ Royalty Pharma ”) as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/0001193125-26-084082-index.htm
- claim_id: 8d164e73acd58bfb7b51148888e208d11e1ccc38
  claim: Zymeworks Inc. entered into Loan Agreement with Royalty Pharma Development Funding, LLC valued at $250.0 million (effective 2026-03-02).
  evidence_excerpt: Following the sale and transfer of the Royalty Interest, the Subsidiary entered into a Loan Agreement (the “ Loan Agreement ”), dated March 2, 2026, with Royalty Pharma as administrative agent and lender (in the capacity as lender under the Loan Agreement, the “ Lender ” and together with such other lenders party to the Loan Agreement from time to time the “ Lenders ”), pursuant to which the Lenders made a term loan to the Subsidiary (the “ Loan ”) in an aggregate principal amount of $250.0 million (the “ Loan Amount ”), that bears interest at a fixed rate and matures on December 31, 2042 (the “ Maturity Date ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/0001193125-26-084082-index.htm

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