January 05, 2017 05:00 AM Eastern Standard Time

VANCOUVER, British Columbia–(BUSINESS WIRE)–Zymeworks Inc. (“Zymeworks”), a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer, today announced the successful achievement of a research milestone in a second immune-modulating bispecific antibody in its collaboration with Eli Lilly and Company (“Lilly”) using Zymeworks’ proprietary Azymetric™ platform. In accordance with the terms of the licensing and collaboration agreement, Zymeworks is to receive an undisclosed milestone payment from Lilly.

“This is the second research milestone we have reached as part of our collaboration with Lilly, and we are excited with the progress that has been made to ultimately bring novel immunotherapies towards the clinic,” said Dr. Ali Tehrani, President & CEO of Zymeworks. “We believe that the achievement of another successful milestone further validates our Azymetric™ platform as a generator of leading-edge bispecific antibody therapeutics, and we look forward to the continued advancement of other therapeutic programs under our agreements with Lilly.”

Under the terms of the agreement, Zymeworks has granted Lilly a worldwide, royalty-bearing license to research, develop and commercialize certain bispecific therapeutic candidates toward Lilly’s therapeutic targets. For this program, Zymeworks is eligible to receive further development and commercial milestone payments as well as tiered royalties on product sales.

About the Azymetric™ Platform

The Azymetric™ platform consists of a library of proprietary amino acid substitutions that enable the transformation of monospecific antibodies into bispecific antibodies, which gives them the ability to simultaneously bind two non-overlapping epitopes, or antigens. Azymetric™ bispecific technology enables the development of biotherapeutics with dual-targeting of receptors/ligands and simultaneous blockade of multiple signaling pathways, increasing tumor-specific targeting and efficacy while reducing toxicities and the potential for drug-resistance. Additionally, the dual-targeting of Azymetric™ antibodies has demonstrated synergistic efficacy in preclinical studies through simultaneous binding relative to the application of an equivalent dose of the corresponding monospecific antibodies. Azymetric™ bispecifics can also be engineered to enhance internalization of the antibody into the tumor cell and consequently increase the delivery of cytotoxic payloads.

First-generation bispecific platforms significantly alter the structure of monoclonal antibodies or rely upon complex and proprietary manufacturing processes. Azymetric™ bispecifics, in contrast, retain the desirable drug-like qualities of monoclonal antibodies, including long half-life, stability and low immunogenic potential, which increases their probability of success. Azymetric™ bispecifics are also compatible with standard manufacturing processes with high yields and purity, which accelerates manufacturing timelines and reduces costs.

About Zymeworks Inc.

Zymeworks is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer. Zymeworks’ suite of complementary therapeutic platforms and its fully-integrated drug development engine provide the flexibility and compatibility to precisely engineer and develop highly-differentiated product candidates. Zymeworks’ lead product candidate, ZW25, is a novel bispecific antibody currently being evaluated in an adaptive Phase 1 clinical trial. Zymeworks is also advancing a deep pipeline of preclinical product candidates and discovery-stage programs in immuno-oncology and other therapeutic areas. In addition to Zymeworks’ wholly-owned pipeline, its therapeutic platforms have been further leveraged through multiple strategic partnerships with global biopharmaceutical companies.

Contacts

Zymeworks Inc.

David Poon, Ph.D., 604-678-1388

Executive Director, External R&D and Alliances

bd@zymeworks.com

or

Investor Inquiries

David Matousek, 604-678-1388

Senior Manager, Investor Relations & Corporate Communications

ir@zymeworks.com

or

ICR Inc.

Stephanie Carrington, 646-277-1282

stephanie.carrington@icrinc.com

or

Media Inquiries

Michael Lampe, 484-575-5040

michael@scientpr.com

TORONTO, Jan. 5, 2017 /PRNewswire/ – Exact Imaging (www.exactimaging.com), the world’s leader in high resolution micro-ultrasound systems enabling real-time imaging and biopsy guidance for the prostate, announced it has secured CDN $21.5 million in a Series C investment to commercialize its ExactVu™ micro-ultrasound system. The financing, which closed late in 2016, was co-led by Lumira Capital (Toronto, ON) and Vesalius Biocapital (Luxembourg) with participation from numerous new investors including PMV (Participatiemaatschappij Vlaanderen) (Brussels, Belgium) and strong support from existing investors including iGan Partners/Rowanwood Ventures (Toronto, ON).

“We are very pleased to have been able to achieve an investment of this magnitude from such a high quality investment syndicate. This financing will allow us to scale our commercial organization, aggressively implement our product roadmap, and help us to realize the significant opportunity in the prostate biopsy and imaging marketplace,” says Randy AuCoin, Exact Imaging’s President and CEO.

“We have followed the evolution of the Exact Imaging story for a number of years and in May of 2016 we participated in bridge financing to support this financing process and to allow the company to achieve regulatory approvals in key markets. Having met those milestones, we are very pleased to be a co-lead on this financing which is one of largest financing rounds for a private Canadian medical device company in Canada for 2016,” said Peter van der Velden, Managing General Partner of Lumira Capital. “The Lumira Investment reflects both our view that the technology addresses a significant unmet market and patient need and that the Exact team is the right team to successfully scale the business globally,” said Dr. Jacki Jenuth, Principal at Lumira Capital.

Dr. Gaston Matthyssens, Managing Partner of Vesalius Biocapital, noted, “Exact Imaging’s micro-ultrasound technology has the potential to change the standard of patient care in the urological practice by providing the urologist with the very tool they have been seeking. Specifically, a solution for prostate biopsies that provides much better resolution, is controlled by the urologist and is based on a known technology and workflow. With resolution down to 70 microns or 0.07 of a millimeter, the ExactVu high resolution system provides a 300% improvement in imaging resolution compared to the traditional standard-of-care urological ultrasound systems. Urologists now have a tool, designed around their workflow, to facilitate the detailed interrogation and visualization of suspicious regions and perform targeted prostate biopsies.”

PMV’s Dr. Alexandra Tolia added, “Our participation in Exact Imaging’s Series C financing reflects our fund’s investment strategy in healthcare. Specifically, we invest in companies with a disruptive technology, a unique product pipeline that addresses a highly unmet medical need and with an excellent management team committed to bringing these products to market and, consequently, to the patient. Through this financing, we are excited to support Exact Imaging in realizing their international development plan, including the creation of its European headquarters in Flanders, which will be spearheading the commercial roll-out efforts for the ExactVu system in Europe.”

“As a founding investor in Exact Imaging and longtime supporter of the company, we have always believed in the potential of this high resolution micro-ultrasound technology and the impact it could have on the urology marketplace,” says Mr. Sam Ifergan, CEO of iGan Partners/Rowanwood Ventures. “Having worked with this management team in the past on other successful ventures, we were fully confident to further invest in this round to support the Company’s future and the pursuit of this next level of commercialization.”

Mr. van der Velden, Dr. Matthyssens and Dr. Tolia will be joining Exact Imaging’s Board of Directors along with existing Board members Mr. Ifergan (co-founder, iGan Partners/Rowanwood Ventures), Mr. William Wortman (Private Investor), Dr. Harold Wodlinger (Wodlinger Consulting) and Exact Imaging’s President and CEO, Mr. AuCoin.

About Exact Imaging:

Exact Imaging (www.exactimaging.com)is the world’s leader in high-resolution micro-ultrasound systems enabling real-time imaging and guided biopsies in the urological market for prostate cancer. Exact Imaging’s ExactVu™ micro-ultrasound platform operates at 29 MHz and enables a whole new level of resolution with the benefits of ease of use, affordability, and being an extension of the current urological workflow. Using the Exact Imaging platform, urologists will now be able to visualize areas of interest in the prostate and specifically target biopsies at those areas in addition to performing systematic biopsy protocols. The ExactVu™ micro-ultrasound system has recently been granted regulatory approval in the European Union (CE Mark) and the United States (FDA 510(k) where the company will initiate its commercialization focus. Exact Imaging was founded in 2013 by Mr. Sam Ifergan (iGan Partners) and Mr. Randy AuCoin to develop and commercialize this novel high resolution technology in order to disrupt the market and enable new levels of clinical imaging.