Zymeworks Confirms Receipt of Unsolicited, Non-Binding Proposal from All Blue Falcons
29 April 2022 - 3:00AM
Business Wire
Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical
company developing next-generation multifunctional biotherapeutics,
today confirmed it has received an unsolicited, non-binding
proposal from All Blue Falcons FZE (“ABF”) and its affiliates to
purchase the Company for $10.50 per share in cash.
The Zymeworks board of directors will carefully review the
proposal to determine the course of action that it believes is in
the best interest of the Company and all Zymeworks shareholders.
The board reminds shareholders that no formal offer has been made
by ABF, and as such there is no need for Zymeworks shareholders to
take any action at this time. If a formal offer is made, it will be
reviewed by the board with its advisors, and a formal
recommendation by the board will be made to shareholders in due
course.
Advisors
Kingsdale Advisors is acting as strategic shareholder and
communications advisor to Zymeworks. Blake, Cassels & Graydon
LLP and Wilson Sonsini Goodrich & Rosati are acting as counsel
to the Company.
About Zymeworks Inc.
Zymeworks is a clinical-stage biopharmaceutical company
dedicated to the discovery, development and commercialization 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, zanidatamab, is a
novel Azymetric™ HER2-targeted bispecific antibody currently being
evaluated in multiple Phase 1, Phase 2, and pivotal clinical trials
globally as a targeted treatment option for patients with solid
tumors that express HER2. Zymeworks’ second clinical candidate,
ZW49, is a novel bispecific HER2-targeted antibody-drug conjugate
currently in Phase 1 clinical development and combines the unique
design and antibody framework of zanidatamab with Zymeworks’
proprietary ZymeLink™ linker and cytotoxin. 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 global biopharmaceutical companies. For more
information on our ongoing clinical trials visit
www.zymeworksclinicaltrials.com. For additional information about
Zymeworks, visit www.zymeworks.com and follow @ZymeworksInc on
Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20220428006375/en/
Investor Inquiries: Jack Spinks (604) 678-1388
ir@zymeworks.com
Media Inquiries: Diana Papove (604) 678-1388
media@zymeworks.com
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