J&J antes $50M to get Zymeworks' 6th big bispecifics alliance underway, with $6B in total milestones on the table
Newly public Zymeworks $ZYME has just lined up its 6th major biopharma discovery alliance, this time bringing J&J $JNJ into a fold that already includes such big players as Merck, Eli Lilly, Celgene, GSK and Daiichi Sankyo. And this deal starts with a substantial — for a discovery deal — upfront along with $1.4 billion in total milestones on the table.
Zymeworks’ somewhat battered shares took off on the news, spiking 38% Monday morning.
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