VANCOUVER, British Columbia — October 23, 2026
Zymeworks Inc., a biotechnology company developing multifunctional biotherapeutics and managing a portfolio of licensed healthcare assets, has entered into an exclusive global license and collaboration agreement with Roche for ZW209, an investigational trispecific T-cell engager targeting DLL3-expressing tumors. Under the agreement, Zymeworks will receive a $55 million upfront payment and is eligible for a further $40 million payment upon initiation of the Phase 1b trial, alongside up to $718 million in additional development, commercial and sales-based milestone payments. The company is also eligible to receive tiered royalties ranging from high single digits to the mid-teens on global net sales of any approved medicines arising from the collaboration. Zymeworks will conduct the Phase 1a monotherapy clinical trial in collaboration with Roche, which will fund the study and assume responsibility for subsequent global development and commercialization. The agreement gives Roche exclusive worldwide rights to develop and commercialize ZW209. The transaction remains subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, customary closing conditions and any other required regulatory approvals. The partnership combines Zymeworks’ expertise in multispecific antibody engineering with Roche’s global capabilities in cancer drug research, development, manufacturing and commercialization. The companies intend to advance the candidate through clinical development and explore its potential across indications and treatment settings.
ZW209 Uses a Trispecific Design to Target DLL3-Expressing Tumors
ZW209 is a trispecific T-cell engager (TriTCE) designed to recognize DLL3-expressing tumor cells while engaging T cells through binding to CD3 and CD28. DLL3 is the target selected for the program, which is being developed for advanced solid tumors, including small cell lung cancer and other DLL3-expressing neuroendocrine tumors. Zymeworks designed ZW209 to combine tumor-directed activity with T-cell co-stimulation, with the goal of enhancing antitumor immune responses. The candidate incorporates the company’s TriTCE Co-Stim, Azymetric™ and EFECT™ technologies. According to Zymeworks, its design uses obligate cis-T-cell binding and conditional CD28 engagement intended to reduce unintended T-cell activation while supporting tumor-targeted cytotoxicity. In preclinical in vitro studies, ZW209 demonstrated what the company described as differentiated long-term cytotoxicity, accompanied by enhanced T-cell proliferation and survival. These findings provide a rationale for clinical evaluation, but preclinical results do not establish safety or effectiveness in humans. The U.S. Food and Drug Administration has cleared the Investigational New Drug (IND) application for ZW209, enabling clinical development to proceed in the United States. The planned global, open-label, multicenter Phase 1 study will evaluate safety, tolerability, pharmacokinetics and preliminary antitumor activity in adults with selected advanced solid tumors. Additional regulatory applications are planned to support the opening of study sites outside the United States. The clinical program will assess how the candidate behaves in patients and whether further development is warranted.
Roche to Lead Subsequent Global Development and Commercialization
Under the collaboration, Zymeworks will work with Roche on the Phase 1a monotherapy trial, while Roche will provide funding for that study and take responsibility for subsequent global development and commercialization. The agreement is structured to allow Zymeworks to advance ZW209 through its initial clinical evaluation while relying on Roche’s broader capabilities for later-stage development and potential commercialization. Zymeworks said the transaction reflects its strategy of generating differentiated therapeutic candidates through internal research and development, then selectively partnering programs where external expertise can help expand development opportunities and share associated risks. The potential milestone payments and royalties would give Zymeworks continued financial participation if the program progresses and ultimately generates approved products and sales. The maximum stated value of the upfront payment, Phase 1b initiation payment and additional milestones is up to $813 million, excluding royalties. These payments are contingent on the applicable contractual and development milestones; the total is not guaranteed revenue. ZW209 also adds to Zymeworks’ portfolio of multispecific T-cell engagers directed at targets in solid tumors, hematological tumors and autoimmune, inflammatory and immune-mediated diseases (AIID). Roche said the program complements its efforts to develop new treatment options for people with lung cancer. Both companies expect the collaboration to support further investigation of ZW209’s therapeutic potential.
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Partnership Expands Zymeworks’ Multispecific Antibody Strategy
The ZW209 agreement forms part of Zymeworks’ broader approach to building a diversified healthcare portfolio while advancing novel antibody-based medicines for difficult-to-treat diseases. The company combines a research and development engine focused on next-generation therapeutics with licensed assets intended to generate cash flow and value through partnerships. Its portfolio includes YUPELRI® (revefenacin) and Ziihera® (zanidatamab-hrii), a HER2-targeted bispecific antibody commercialized through global partnerships with Jazz Pharmaceuticals and BeOne Medicines. It also includes pasritamig, a clinical-stage multispecific antibody developed by Johnson & Johnson using Zymeworks’ antibody-engineering technologies. Zymeworks’ capabilities span multispecific antibodies, antibody-drug conjugates and other advanced antibody technologies. The Roche collaboration applies this expertise to a trispecific candidate designed to direct T cells against DLL3-expressing cancers. The immediate development focus is clinical evaluation, beginning with the Phase 1 program; the candidate remains investigational, and its safety and therapeutic benefit have not yet been established. Zymeworks announced that it will hold an investor and public conference call on October 27, 2026, at 8:30 a.m. Eastern Time to discuss the agreement. A live webcast and dial-in information will be made available through the company’s events and presentations page, with a replay expected within 24 hours after the call and archived for a limited period.
Source: Zymeworks, press release
