Zymeworks (ZYME) said Wednesday that it has achieved a $14 million cash research clinical milestone from GSK (GSK).
The companies signed a platform technology transfer and license agreement in 2016 to research, develop, and commercialize up to six bispecific antibodies generated using Zymeworks' Azymetric platform, Zymeworks said, adding that it is eligible to receive up to $1.1 billion in milestone payments.
Zymeworks' stock was up 3% in recent Wednesday premarket activity, while GSK's shares were down 1.3%.
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