Corporates get to Zymeworks for $61m mezzanine round

Jan 8, 2016 • Robert Lavine

Celgene, Eli Lilly and Brace Pharma participated in a series A mezzanine financing round that will help Zymeworks advance its breast cancer drugs into clinical development.

Canada-based biotherapeutics developer Zymeworks closed $61.5m in series A mezzanine financing on Friday from investors including pharmaceutical companies Eli Lilly and Company, Celgene and Brace Pharma.

BDC Capital and Lumira Capital co-led the round, which included CTI Life Sciences Fund, Fonds de solidarité FTQ, Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund and Merlin Nexus. Brace invested through its Brace Pharma Capital unit.

Zymeworks is developing bispecific antibodies and antibody drug conjugates to treat cancer, autoimmune and inflammatory diseases.

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