# Zymeworks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zymeworks

- Industry: Biotechnology
- Headquarters: Vancouver, Canada
- Website: www.zymeworks.com
- Total disclosed funding: $80M
- Latest round: Series A (Jan 8, 2016)
- Investors on record: 14

## About

Founded in 2003 and headquartered in Vancouver, Canada, Zymeworks Inc. is a biotechnology firm dedicated to developing innovative therapeutics for serious health conditions, focusing primarily on oncology, inflammation, and autoimmune diseases through advanced antibody technology. Zymeworks Inc. specializes in biopharmaceutical development, particularly in the creation of multifunctional therapeutics. The company has not reported any significant pivots in business strategy. Kenneth Galbraith serves as the current CEO of Zymeworks Inc.. The company develops novel, multifunctional therapeutics specifically designed to address healthcare needs in oncology, inflammation, and autoimmune diseases. Its flagship product, zanidatamab, is a HER2-targeted bispecific antibody utilizing the proprietary Azymetric™ technology, aimed at treating adults with unresectable or metastatic HER2-positive biliary tract cancer. The drug has received accelerated approval from the U.S. FDA and conditional approval from China's NMPA. Zymeworks Inc. collaborates with global biopharmaceutical companies, granting exclusive rights for the development and commercialization of zanidatamab in various regions, including the United States and China, with ongoing clinical trials in the European Union.In the most recent fiscal year 2022, Zymeworks reported revenue of USD 412.48 mn and an EBITDA of USD 142.53 mn. The company generates revenue primarily through strategic partnerships and exclusive licensing agreements with other biopharmaceutical firms, where partners commercialize Zymeworks' products in specific territories. These agreements typically involve upfront payments, milestone payments for regulatory achievements, and royalties on sales.Zymeworks intends to utilize the recent funding towards advancing the clinical development of its lead therapeutic candidates, ZW25 and ZW33, which are scheduled to enter clinical trials later this year. The company is also targeting expansion into new geographic markets to enhance its global presence. In March 2026, Royalty Pharma agreed to issue a USD 250 million non-recourse royalty-backed notes to Zymeworks Inc. with repayments due from 30% of worldwide tiered royalties on its product, Ziihera. The financing will enhance the company's balance sheet with non-dilutive capital and back its repurchase program, fund potential strategic acquisitions.

## Funding rounds

- Series A, Jan 8, 2016, $62M — Northleaf Capital Partners, BDC Capital, CTI Life Sciences, Merlin Nexus, Teralys Capital, Eli Lilly & Company, Bristol-Myers Squibb Company, Perceptive Advisors, Brace Pharma Capital, Fonds de solidarité FTQ Investissements, Lumira Ventures
- Series B, Jan 9, 2014, $15M — Ventures West Capital, Advent Venture Partners, CTI Life Sciences, Advanced Biotechnologies Venture Fund
- Series C, Jun 23, 2009, $3.5M — CTI Life Sciences

## Investors

- CTI Life Sciences (https://capitalatlas.ai/funds/cti-life-sciences) — Series C, Series B, Series A
- Ventures West Capital (https://capitalatlas.ai/funds/ventures-west-capital) — Series B
- Advent Venture Partners (https://capitalatlas.ai/funds/advent-venture-partners) — Series B
- Advanced Biotechnologies Venture Fund (https://capitalatlas.ai/funds/advanced-biotechnologies-venture-fund) — Series B
- Northleaf Capital Partners (https://capitalatlas.ai/funds/northleaf-capital-partners) — Series A
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- Merlin Nexus (https://capitalatlas.ai/funds/merlin-nexus) — Series A
- Teralys Capital (https://capitalatlas.ai/funds/teralys-capital) — Series A
- Eli Lilly & Company — Series A
- Bristol-Myers Squibb Company — Series A
- Perceptive Advisors (https://capitalatlas.ai/funds/perceptive-advisors) — Series A
- Brace Pharma Capital (https://capitalatlas.ai/funds/brace-pharma-capital) — Series A
- Fonds de solidarité FTQ Investissements — Series A
- Lumira Ventures (https://capitalatlas.ai/funds/lumira-ventures) — Series A