Zymeworks has signed its first major deal, a US$187 M global licensing agreement with Merck & Co. to develop and commercialise bispecific antibodies generated through use of its proprietary Azymetric™ platform against two targets in the areas of oncology and autoimmune disease. Merck will gain exclusive worldwide commercialisation rights to products derived from the collaboration. The deal is part of Merck’s strategy to advance the development of biologics.