November 27, 2018 / 4:45 PM / 2 years ago

BUZZ-Zymeworks: Jumps after co inks pact for its therapies, platforms

** Canadian biotech co’s U.S.-listed shares jumps 21.60 pct - set for biggest daily gain since late May

** Co enters license agreement with BeiGene Ltd to develop two of its cancer therapies

** Pact gives BeiGene exclusive development and commercial rights to the therapies in Asia (excluding Japan), Australia and New Zealand

** BeiGene will be responsible for all clinical development and regulatory submissions in the licensed territories

** Separately, BeiGene enters into another agreement for two of ZYME’s platforms Azymetric and EFECT

** In total, ZYME to receive upfront payments of $60 mln and up to $1.09 bln in development and commercial milestone payments from both license agreements combined

** Canadian shares of ZYME rise 13.1 pct to C$17.05

** ZYME’s U.S. share climb 69 pct this year (Reporting by Medha Singh in Bengaluru)

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