Canada-based Zymeworks has signed a licensing agreement that provides Iconic Therapeutics with non-exclusive rights to Zymeworks' proprietary ZymeLink antibody-drug conjugate platform for the development of its ICON-2 Tissue Factor ADC for cancer, it was reported yesterday.

This is the first collaboration leveraging the ZymeLink platform and represents Zymeworks' third technology platform licensed to a collaborator.

According to the terms of the contract, Zymeworks will be eligible to receive development and commercial milestone payments and tiered royalties on worldwide net sales. The contract also provides Zymeworks with co-promotion rights with increased royalties for products developed using the Iconic ADC program. If Iconic out-licenses the program, in lieu of co-promotion rights, Zymeworks will receive a share of the revenue Iconic receives from any partners and tiered royalties on worldwide net sales.