Royalty Pharma and Zymeworks Enter Into $250 Million Royalty-Backed Note Financing

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 Ziihera sales per the agreement, with full royalty rights reverting to Zymeworks once the royalty payments to Royalty Pharma have ceasedProceeds strengthen Zymeworks’ balance sheet with non-dilutive capital and support its stock repurchase program, potential strategic acquisitions, and cash ...