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Zymeworks Highlights 2020 Achievements and Announces Corporate Priorities
Monday, January 11, 2021Company Profile | Follow Company
Vancouver, BC, January 11, 2021--(T-Net)--Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company developing multifunctional biotherapeutics, today highlighted its key accomplishments in 2020 and updated its corporate priorities.
"2020 was a leap forward for our lead clinical program in terms of a potential first approval and future approvals," said Ali Tehrani, Ph.D., President and CEO at Zymeworks. "The launch of our first pivotal trial and achievement of Breakthrough Therapy designation for zanidatamab mark important milestones towards our accelerated commercialization strategy, and our new clinical partnerships further strengthen zanidatamab's broad therapeutic profile. 2021 promises to be a data-rich year for both zanidatamab and ZW49 as we continue to demonstrate their potential to become foundational therapies in the treatment of HER2-expressing cancers."
2020 Achievements
Zanidatamab Enters Late-Stage Clinical Development with Accelerated Strategy
Zanidatamab Data and Partnerships Continue to Support Broad Therapeutic Potential
Clinical Advancement of HER2 Bispecific ADC, ZW49, for HER2 Expressing Cancers
Commercial, Clinical and Scientific Competencies Added to Leadership Team
Partnerships Advance: Milestone Payments Received and Deal Values Increase
Balance Sheet Strengthened and Cash Runway Extended
Updated Corporate Priorities
About Zymeworks Inc.
Zymeworks is a clinical-stage biopharmaceutical company dedicated to the development of next-generation multifunctional biotherapeutics. Zymeworks' suite of therapeutic platforms and its fully integrated drug development engine enable precise engineering of highly differentiated product candidates. Zymeworks' lead clinical candidate, zanidatamab (ZW25), is a novel Azymetric™ bispecific antibody which has been granted Breakthrough Therapy designation by the FDA and is currently enrolling in a pivotal clinical trial for refractory HER2+ biliary tract cancer (HERIZON-BTC-01) as well as several Phase 2 clinical trials for HER2+ gastroesophageal and breast cancers. Zymeworks' second clinical candidate, ZW49, is a bispecific antibody-drug conjugate currently in Phase 1 clinical development and combines the unique design and antibody framework of zanidatamab with Zymeworks' proprietary ZymeLink™ linker-cytotoxin. Zymeworks is also advancing a deep preclinical pipeline in oncology (including immuno-oncology agents) and other therapeutic areas. In addition, its therapeutic platforms are being leveraged through strategic partnerships with nine biopharmaceutical companies. For additional information about Zymeworks, visit www.zymeworks.com.
Zymeworks Cautionary Note Regarding Zymeworks' Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this news release include statements that relate to Zymeworks' global pivotal trial for zanidatamab in BTC (including the potential submission of a BLA), commercialization strategy, anticipated updates for zanidatamab and ZW49 and their potential to become foundational therapies in the treatment of HER2-expressing cancers, plans to launch a second pivotal trial with BeiGene, potential milestone payments and royalties on potential product sales, anticipated cash runway, and other information that is not historical information. When used herein, words such as "may", "will", "plan", "continue", "potential", and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Zymeworks' current expectations and various assumptions, including assumptions regarding anticipated reporting of additional clinical and preclinical data, the efficacy of ZW25, ZW49, and Zymeworks' therapeutic platforms, and Zymeworks' ability to enter into new partnership arrangements.
Zymeworks believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Zymeworks may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various factors, including, without limitation, market conditions and the factors described under "Risk Factors" in Zymeworks' Quarterly Report on Form 10-Q for its fiscal quarter ended September 30, 2020 (a copy of which may be obtained at www.sec.gov and www.sedar.com). Consequently, forward-looking statements should be regarded solely as Zymeworks' current plans, estimates, and beliefs. You should not place undue reliance on forward-looking statements. Zymeworks cannot guarantee future results, events, levels of activity, performance, or achievements. Zymeworks does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events, or circumstances, or to reflect the occurrences of unanticipated events, except as may be required by law.
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