Jazz Pharmaceuticals has entered into an exclusive licensing agreement with Zymeworks' subsidiary, Zymeworks BC to develop and commercialise the latter’s HER2-targeted bispecific antibody, Zanidatamab.
Under the deal terms, Jazz will get exclusive rights to develop and market the antibody across all indications in the US, Japan, Europe, as well as all other territories, excluding Asia/Pacific territories, which were previously licensed by Zymeworks.
Zymeworks will receive an upfront payment of $50m upon receiving regulatory clearance, as well as $325m in second one-time payment.
The company is also eligible to receive nearly $525m upon achieving certain regulatory milestones and approximately $862.5m in commercial milestones with a total deal value of around $1.76bn along with royalties between 10% and 20% on Jazz’s net sales.
With new mechanisms of action, Zanidatamab has showed compelling anti-tumour activity in many HER2-expressing cancers as monotherapy and along with chemotherapy and other agents.
At present, the antibody is in pivotal trials as a first-line treatment for HER2-positive gastroesophageal adenocarcinoma (GEA) and as a second-line treatment for HER2-expressing biliary tract cancer (BTC).
Jazz Pharmaceuticals research and development global head and executive vice-president Rob Iannone said: “Zanidatamab is a novel HER2-targeted bispecific antibody with biparatopic binding and the potential to transform the current standard of care in multiple HER2 expressing cancers.
“This agreement reflects Jazz’s strategic focus on opportunities where we can not only apply advanced technologies to address critical unmet patient needs, but where we can also leverage Jazz’s existing integrated capabilities and global infrastructure to commercialise efficiently.”
Zymeworks is developing the antibody in several Phase I, Phase II and pivotal global clinical trials as a targeted treatment option for solid tumour patients.