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Zymeworks up 15% after hours on expanded Celgene partnership

Published 04/23/2018, 04:21 PM
© Reuters.  Zymeworks up 15% after hours on expanded Celgene partnership
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  • Zymeworks (NYSE:ZYME) announces that collaboration partner Celgene (NASDAQ:CELG) has exercised its option to expand their agreement aimed at discovering, developing and commercializing bispecific antibodies using Zymeworks' Azymetric platform.
  • The new deal increases the number of potential products for development and commercialization from eight to 10 while extending the research program by two years. Zymeworks will receive an expansion fee of $164M and will be eligible to receive milestones plus royalties on all products as before. The total amount of milestones it may receive is now $1.64B.
  • Shares are up 15% after hours.
  • Now read: Celgene: Bold Pursuits In Science With 24.66% Discount


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