Zymeworks Inc., a Vancouver, BC, Canada-based biotherapeutics company focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations, closed a US$ 61.5m Series A mezzanine financing.
The round was co-led by new investors BDC Capital and Lumira Capital, with participation from existing investors Eli Lilly and Company, Celgene, CTI Life Sciences Fund, and the Fonds de solidarité FTQ and new investors Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital, Merlin Nexus and others.
In conjunction with the deal, Dion Madsen, Senior Managing Partner in BDC Capital’s Healthcare Venture fund will join Zymeworks’ board of Directors, while Dr. Daniel Hétu, Managing Director in Lumira Capital, will join as an observer.
The company intends to use the funds to advance its therapeutic candidates ZW25 and ZW33 to clinical development.
Led by Dr. Ali Tehrani, President and Chief Executive Officer, Zymeworks leverages novel Azymetric™, AlbuCORE™, and EFECT™ platforms, and its proprietary ZymeCAD™ structure-guided protein engineering technology to develop bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases.