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Full Deal Summary

Leo Pharma AS will collaborate with Zymeworks Inc. on the discovery of monospecific antibodies from which the partners will then develop bispecific antibody candidates targeting cytokine-receptor pathways within dermatology, inflammation, and autoimmune indications.

Zymeworks contributes its Azymetric and Effector Function Enhancement and Control Technology (EFECT) antibody discovery platforms, which it will direct at Leo Pharma's targets. Leo gets exclusive worldwide rights to research, develop, and commercialize two bispecific antibodies for dermatology applications, while Zymeworks retains the rights in all other therapeutic areas, including inflammation and autoimmune indications. Zymeworks will receive $5mm up front; research funding; up to $236mm in development and commercialization milestones, plus tiered royalties of up to 20% in the US, and high-single-digit royalties (7-9%) in ROW for the first resulting candidate; and up to $244mm in development and commercialization milestones and up to low-double-digit royalties (10-29%) globally on any future sales of the second candidate. Leo is eligible to receive commercialization milestones and single-digit royalties on any antibodies targeting cytokine-receptor pathways outside dermatology that Zymeworks develops on its own. Zymeworks' Azymetric platform transforms monospecific antibodies into bispecific antibodies, enabling them to simultaneously bind to two different targets. The EFECT platform is a library of antibody Fc modifications, which enables the modulation of immune cell recruitment and function in both traditional monoclonal as well as Azymetric bispecific antibodies. engineered to modulate the activity of the antibody-mediated immune response, which includes both the up- and down-regulation of effector functions. Although specific disease areas weren't yet disclosed for the current collaboration, it will strengthen Leo's existing dermatology pipeline, which already boasts Phase III tralokinumab, an IL-13 antibody, and LP0145, a Phase I IL-22 antibody, both for atopic dermatitis. Zymeworks, which is mostly focused on cancer therapeutics, also has other Azymetric and EFECT research collaborations with various partners, including Merck & Co., Lilly, Celgene, Daiichi Sankyo, and most recently Janssen Biotech, with which it penned a potential $1.5bn deal for up to six bispecific antibodies against Janssen targets in nondisclosed therapeutic fields.

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Potential Deal Value $480.00mm
Upfront Total $5.00mm
Total Milestones (pre- and post-sales) $475.00mm
Transactions 1 of 2 (10/2018)
Funding Stage Upfront
Upfront (Cash) $5.00mm
Upfront (Total) $5.00mm
Royalty 7%
Royalty 29%
Transactions 2 of 2
Funding Stage MS Pre & Post Tot.
MS Pre & Post Tot. (Cash) $475.00mm
MS Pre & Post Tot. (Total) $475.00mm

Product Information

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Product 1 of 3
Product Type Pharmaceutical
Highest Phase at Time of Deal Research
Product Therapeutic Area(s) of Focus Dermatology
Licenser Name Zymeworks Inc.
Clinical Developer Leo Pharma AS
Licensee Name Leo Pharma AS
Carveouts for Leo Pharma AS
Territories Licensed Worldwide (All) (Exclusive)

Product 2 of 3
Product Type Technology
Brand Name Azymetric

Product 3 of 3
Product Type Technology
Brand Name EFECT