Zymeworks Announces New Director Nominee
October 16 2023 - 4:30PM
Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology
company developing novel multifunctional biotherapeutics, today
announced that its board of directors will nominate Dr. Nancy
Davidson for election to its board of directors at the Company’s
upcoming annual general meeting of stockholders to be held on
December 7, 2023.
“As the Company continues to execute on our
strategy to support the approval and commercialization of
zanidatamab while targeting five IND filings for new product
candidates before the end of 2027, we are pleased to announce a
significant proposed addition to our board of directors. With two
prior additions to our board of directors already during 2023,
these changes help secure the diversity of leadership experience
required to successfully achieve our growth ambition over the next
several years and beyond,” stated Kenneth Galbraith, Chair and
Chief Executive Officer of Zymeworks. “With this in mind, we are
delighted to invite Dr. Davidson to join our board of directors.
Dr. Davidson’s substantial expertise in the field of oncology and
foundational work in advancing insights in cancer biology from the
bench through clinical studies and into the patient community
arrives at a crucial time as we prepare for pivotal milestones in
our product pipeline.”
“I am excited to be nominated to join the Zymeworks
board of directors, and deeply share in its patient-centered
mission and commitment to improving the standard of care for
difficult-to-treat cancers,” stated Dr. Nancy Davidson, MD. “I look
forward to using my clinical experience to contribute to the
development of data-driven and differentiated next-generation
therapies for patients with inadequate treatment options.”
Dr. Davidson is an oncologist and researcher who is
a top opinion leader in the field of breast cancer biology and
treatment, with a particular interest in developing evidence-based
clinical pathways in breast cancer treatment. She has contributed
foundational research to the understanding of how hormones affect
gene expression and cell growth in breast cancer, and how hormonal
deprivation and other therapies trigger breast cancer cells to kill
themselves through apoptosis, or programmed cell death. Her lab
studies have paved the way for new clinical trials of drugs that
exploit these pathways to kill breast cancer. She has also led
several critical clinical trials that have advanced the care of
breast cancer patients through combining chemotherapy and hormone
therapy for premenopausal women with the disease and has guided
several important national clinical trials of potential new
therapies, including chemo-endocrine therapy for premenopausal
breast cancer and anti-angiogenesis therapy for advanced
disease.
Dr. Davidson is currently the Executive Vice
President for Clinical Affairs, Raisbeck Chair for Collaborative
Research and Professor of Fred Hutchinson Cancer Center (“FHCC”).
She also serves as a Professor at the University of Washington
Department of Medicine based in Seattle. Prior to joining FHCC, she
spent time at the National Cancer Institute, Johns Hopkins in
Baltimore and the University of Pittsburgh. Dr. Davidson is a
past-President of both the American Society of Oncology (ASCO) and
the American Association for Cancer Research (AACR) and has served
on a variety of board of directors and advisory committees in the
oncology field. She has authored more than 400 publications during
her career. After receiving a B.A. in Molecular Biology from
Wellesley College, she went on to obtain an M.D. from Harvard
Medical School. Dr. Davidson completed her residency in Internal
Medicine at John Hopkins Hospital and a fellowship at the National
Cancer Institute.
About Zymeworks Inc.
Zymeworks Inc. (Nasdaq: ZYME) is a global
biotechnology company committed to the discovery, development, and
commercialization of novel, multifunctional biotherapeutics.
Zymeworks' mission is to make a meaningful difference for people
impacted by difficult-to-treat cancers and other serious diseases.
Zymeworks' complementary therapeutic platforms and fully integrated
drug development engine provide the flexibility and compatibility
to precisely engineer and develop highly differentiated
antibody-based therapeutic candidates. Zymeworks engineered and
developed zanidatamab, a HER2-targeted bispecific antibody using
Zymeworks' proprietary Azymetric™ technology. Zymeworks has entered
into separate agreements with BeiGene, Ltd. (BeiGene) and Jazz
Pharmaceuticals Ireland Limited (Jazz), granting each of BeiGene
and Jazz with exclusive rights to develop and commercialize
zanidatamab in different territories. Zanidatamab is currently
being evaluated in global Phase 1, Phase 2, and Phase 3 clinical
trials, including certain ongoing pivotal clinical trials as a
treatment for patients with HER2-expressing cancers. Zymeworks'
next clinical candidate, zanidatamab zovodotin (ZW49), is a
HER2-targeted bispecific antibody-drug conjugate (ADC) developed
using Zymeworks' proprietary Azymetric™ and ZymeLink™ Auristatin
technologies. Zanidatamab zovodotin is currently being evaluated in
a Phase 1 clinical trial for patients with a variety of
HER2-expressing, HER2-amplified or HER2-mutant cancers. Zymeworks
is also advancing a deep pipeline of product candidates based on
its experience and capabilities in both ADC and multispecific
antibodies (MSAT). In addition to Zymeworks' wholly owned pipeline,
its therapeutic platforms have been further leveraged through
strategic partnerships with global biopharmaceutical companies. For
information about Zymeworks, visit www.zymeworks.com and follow
@ZymeworksInc on Twitter.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes “forward-looking
statements” or information within the meaning of the applicable
securities legislation, including Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements in this press
release include, but are not limited to, statements that relate to
potential therapeutic effects and commercial potential of
zanidatamab and Zymeworks' other product candidates; Zymeworks’
clinical development of its product candidates and enrollment in
its clinical trials; the ability to advance product candidates into
later stages of development; and other information that is not
historical information. When used herein, words such as “plan”,
“believe”, “expect”, “may”, “continue”, “anticipate”, “potential”,
“will”, “progress”, 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. 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: clinical trials
may not demonstrate safety and efficacy of any of Zymeworks’ or its
collaborators’ product candidates; any of Zymeworks’ or its
partners’ product candidates may fail in development, may not
receive required regulatory approvals, or may be delayed to a point
where they are not commercially viable; regulatory agencies may
impose additional requirements or delay the initiation of clinical
trials; the impact of new or changing laws and regulations; market
conditions; and the factors described under “Risk Factors” in
Zymeworks’ quarterly and annual reports filed with the Securities
and Exchange Commission, including its Quarterly Report on Form
10-Q for its quarter ended June 30, 2023 (a copy of which may be
obtained at www.sec.gov and www.sedar.com).
Although Zymeworks believes that such
forward-looking statements are reasonable, there can be no
assurance they will prove to be correct. Investors should not place
undue reliance on forward-looking statements. The above
assumptions, risks and uncertainties are not exhaustive.
Forward-looking statements are made as of the date hereof and,
except as may be required by law, Zymeworks undertakes no
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.
Zymeworks Media Contact:Diana
Papove Director, Corporate
Communications media@zymeworks.com (604) 678-1388
Zymeworks Investor
Contact: Shrinal Inamdar Director, Investor
Relations ir@zymeworks.com(604) 404-0995
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