Several thousand Canadians employed in the technology sector have been laid off this year, as a brief post-Pandemic surge has quickly soured into a global downturn. Layoffs hail from a wide range of companies, including Ottawa’s Shopify and Toronto’s Clearco. In all, more than 400 tech firms in North America have laid off staff in 2022. Several […]
Zymeworks
Investment Firm Offers To Buy Zymeworks For USD $733 Million
Vancouver’s Zymeworks has received an unsolicited offer from investment firm All Blue Capital to acquire the publicly traded company for USD $10.50 per share, for a total of USD $773 million in cash. The proposal offers a share price more than twice the value at market close today. Dubai-based All Blue Capital currently owns close […]
New Zymeworks CEO Plans To Lay Off 25% Of Staff In 2022
Two weeks after being named the new CEO of Zymeworks, Kenneth Galbraith has announced major leadership changes and said the clinical-stage biopharmaceutical company will lay off at least 25% of its staff this year. Galbraith replaced Zymeworks co-founder Ali Tehrani, Ph.D., who has served as President and CEO since 2003. Dr. Tehrani will remain as […]
Zymeworks Announces Monster New Antibody Collaboration with Pharma Giant Merck
Vancouver-headquartered Zymeworks has signed a new license agreement with longtime partner Merck granting the pharmaceutical giant the right to develop additional multispecific antibody therapeutic candidates using Zymeworks’ Azymetric™ and EFECT™ platforms. Under the terms of the agreement, Zymeworks will provide Merck a worldwide, royalty-bearing license to research, develop and commercialize up to three new multispecific antibodies […]