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Zymeworks Highlights 2019 Achievements and Announces Corporate Priorities

January 13, 2020 GMT

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan 13, 2020--

Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company developing multifunctional biotherapeutics, today highlighted its key accomplishments in 2019 and updated its corporate priorities. Zymeworks also announced multiple clinical program advances for its lead candidates, ZW25 and ZW49.

Recent ZW25 and ZW49 Program Advances

“Our significant achievements in 2019 demonstrate that we are executing on our vision to establish ZW25 as the foundational HER2 therapy across the spectrum of HER2-expressing cancers and lines of therapy,” said Ali Tehrani, Ph.D., President and CEO at Zymeworks. “As our second therapeutic candidate, ZW49, continues to advance in the clinic, we are excited about its transformative potential for both patients with HER2-expressing cancers and for the development of future antibody-drug conjugate therapies. With a visionary leadership team, key hires company-wide, and a strong financial position, we are ready to deliver on our clinical programs and partnering priorities for 2020.”

2019 Achievements

ZW25 Single Agent and Chemotherapy Combination Data Presented at Multiple Medical Meetings; Data Support Plans for Multiple Registration-Enabling Studies

ZW49 Enters Phase 1 ClinicalTesting for HER2-Expressing Cancers

Partnerships Continue to Advance; Milestone Payments Received

Expertise Added to Leadership Team

Balance Sheet Strengthened

Updated Corporate Priorities

About Zymeworks Inc.

Zymeworks is a clinical-stage biopharmaceutical company dedicated to the development of next-generation multifunctional biotherapeutics. Zymeworks’ suite of therapeutic platforms and its fully integrated drug development engine enable precise engineering of highly differentiated product candidates. Zymeworks’ lead clinical candidate, ZW25, is a novel Azymetric™ bispecific antibody currently in Phase 2 clinical development. Zymeworks’ second clinical candidate, ZW49, is a bispecific antibody-drug conjugate currently in Phase 1 clinical development and combines the unique design and antibody framework of ZW25 with Zymeworks’ proprietary ZymeLink™ cytotoxic payload. Zymeworks is also advancing a deep preclinical pipeline in oncology (including immuno-oncology agents) and other therapeutic areas. In addition, its therapeutic platforms are being leveraged through strategic partnerships with nine biopharmaceutical companies. For more information, visit  www.zymeworks.com.

Cautionary Note Regarding Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this news release include statements that relate to Zymeworks’ vision to establish ZW25 as the foundational HER2 therapy, Phase 2 clinical trial evaluating ZW25 in combination with palbociclib and clinical collaboration with Pfizer, strategies for the development of ZW25 and ZW49, anticipated achievement of corporate priorities, and expected clinical results and preclinical data, as well as the nature and progress of Zymeworks’ current and projected corporate partnerships and other information that is not historical information. When used herein, words such as “believe”, “may”, “plan”, “estimate”, “continue”, “anticipate”, “expect”, “goal”, “vision”, “potential”, and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Zymeworks’ current expectations and various assumptions, including assumptions regarding anticipated reporting of additional clinical and preclinical data, the efficacy of ZW25, ZW49, and Zymeworks’ therapeutic platforms, and Zymeworks’ ability to enter into new partnership arrangements. Zymeworks believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Zymeworks may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various factors, including, without limitation, market conditions and the factors described under “Risk Factors” in Zymeworks’ Quarterly Report on Form 10-Q for its fiscal quarter ended September 30, 2019 (a copy of which may be obtained at www.sec.gov and www.sedar.com). Consequently, forward-looking statements should be regarded solely as Zymeworks’ current plans, estimates, and beliefs. You should not place undue reliance on forward-looking statements. Zymeworks cannot guarantee future results, events, levels of activity, performance, or achievements. Zymeworks does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events, or circumstances, or to reflect the occurrences of unanticipated events, except as may be required by law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200113005337/en/

CONTACT: Investor Inquiries:

Ryan Dercho, Ph.D.

(604) 678-1388

ir@zymeworks.com  Tiffany Tolmie

(604) 678-1388

ir@zymeworks.com  Media Inquiries:

Kavita Shah, Ph.D.

(604) 678-1388

media@zymeworks.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH

SOURCE: Zymeworks Inc.

Copyright Business Wire 2020.

PUB: 01/13/2020 08:30 AM/DISC: 01/13/2020 08:31 AM

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