Zymeworks, ITS Collaborate For BiotherapeuticsBy
Zymeworks, a Vancouver, British Columbia-based biotherapeutics company focusing on bi-specific antibodies and antibody drug conjugates, has formed a research collaboration with Innovative Targeting Solutions (ITS), a Burnaby, British Columbia-based company that developed a protein-engineering platform for generating human antibody and T-cell receptor-based therapeutics using its HuTARG technology. Under the collaboration, Zymeworks will in-license and integrate ITS' HuTARG platform to help identify and develop therapeutics.
Zymeworks will pay a technology licensing fee to integrate and use the HuTARG platform. In addition, ITS will receive up to $65 million in clinical and commercial milestones and low single-digit royalties on net sales, on a per product basis upon successful development and commercialization. Additional financial terms have not been disclosed.
HuTARG is a protein-engineering platform using mammalian technology to generate antibody diversity in vitro.