Zymeworks And Royalty Pharma Enter Into $250M Funding From Royalty-backed Note With Repayments Due From 30% Of Worldwide Tiered Royalties On Ziihera (Zanidatamab-hrii) Owed To Zymeworks From Jazz Pharmaceuticals And BeOne Medicines
Benzinga Newsdesk 8 months ago
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Zymeworks to receive $250 million under a royalty-backed note financing from Royalty Pharma with repayments due from 30% of worldwide tiered royalties on Ziihera until fully repaidZymeworks to retain 70% of royalties on
- Zymeworks to receive $250 million under a royalty-backed note financing from Royalty Pharma with repayments due from 30% of worldwide tiered royalties on Ziihera until fully repaid
- Zymeworks to retain 70% of royalties on Ziihera sales per the agreement, with full royalty rights reverting to Zymeworks once the royalty payments to Royalty Pharma have ceased
- Proceeds strengthen Zymeworks' balance sheet with non-dilutive capital and support its stock repurchase program, potential strategic acquisitions, and cash runway beyond 2028