Kenneth Galbraith, Zymeworks CEO

Zymeworks adds a clas­sic poi­son pill de­fense to the ar­mory as the biotech's board bat­tles hos­tile takeover

Zymeworks $ZYME is pulling out all the stops as it looks to wrig­gle out of a hos­tile takeover ef­fort.

A few days ago, Zymeworks CEO Ken­neth Gal­braith told End­points News at AS­CO that he was shop­ping for a ma­jor league part­ner to help car­ry their lead drug — zanidatam­ab — in­to the mar­ket, look­ing to bright­en per­cep­tions of its prospects af­ter its share price was mauled and a dis­count buy­er named All Blue Cap­i­tal came call­ing. And at the end of the week, the board adopt­ed a poi­son pill de­fense aimed at sick­en­ing All Blue’s takeover at­tempt at a mod­est price of­fer­ing.

Endpoints News

To read Endpoints News become a free subscriber

Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters