Jazz Exercises Option To Continue Development, Commercialization Of Zymeworks Zanidatamab

(RTTNews) - Jazz Pharmaceuticals plc (JAZZ) and Zymeworks Inc. (ZYME) said Jazz will make a one-time payment of $325 million to Zymeworks, in the fourth quarter of 2022, to exercise its option to continue with its exclusive license to develop and commercialize zanidatamab in the United States, Europe, Japan and all other territories except for those Asia/Pacific territories that Zymeworks previously licensed to BeiGene, Ltd. The company said its decision to exercise this option follows positive top-line clinical data from HERIZON-BTC-01, a trial in previously treated HER2-amplified biliary tract cancers.

Zymeworks is also eligible to receive up to $525 million upon the achievement of certain regulatory milestones and up to $862.5 million in potential commercial milestone payments, for total potential payments of up to $1.76 billion.

"The compelling top-line clinical data from the pivotal trial in patients with BTC highlight zanidatamab's potential to transform the current standard of care," said Rob Iannone, executive vice president, global head of research and development of Jazz Pharmaceuticals.

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