Zymeworks prices US $58.5M IPO and trades on NYSE, TSX

Zymeworks Inc (NYSE/TSX: ZYME), a clinical-stage biopharmaceutical company focused on the treatment of cancer, has priced its proposed initial public offering (IPO) of 4,500,000 common shares at US $13 per share, the low end of US $13-16 range, for gross proceeds of US $58.5 million. (all figures in US dollars).

Zymeworks stock has commenced trading on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX). Its stock opened on NYSE at $13.50 and last traded at $13.094 as at 12:18 PM EDT on April 28, 2017.

Citigroup Global Markets Canada Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Canaccord Genuity Corp. is acting as lead manager. Cormark Securities Inc. is acting as co-manager. MTS Securities, LLC served as financial advisor to Zymeworks in the offering.

Zymeworks major shareholder include Eli Lilly (17.5%, pre-IPO), CTI Life Sciences Fund (14.6%), Ian Ihnatowycz (8.5%, through Advanced Biotechnologies Venture Fund (VCC) and First Generation Capital), and Celgene (6.1%). Other shareholders include Fonds de solidarité, Titan-Perc Ltd., Teralys Capital, Northleaf Venture Catalyst Fund, Brazyme LLC, Merlin Nexus, and MTS Securities.

photo credit: Zymeworks

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.