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Zymeworks licenses antibody platforms to Daiichi Sankyo

Canada's Zymeworks Inc. agreed to license two antibody platforms to Japan's Daiichi Sankyo Co. Ltd.

Under the agreement, Zymeworks will receive US$18 million up front for its Azymetric and Efect platforms, which enable the customization of certain antibody therapies. Daiichi Sankyo also agreed to pay up to US$466.7 million in milestone payments and double-digit tiered royalties on global product sales.

The agreement expands a 2016 cross-licensing and collaboration agreement between the companies.