Zymeworks Inc (ZYME) has released an update.
Zymeworks Inc. has expanded its board with the appointment of Mr. Scott Platshon, a partner at EcoR1 Capital, LLC, as a new Class III director. The appointment, effective from February 22, 2024, is a strategic move following a significant investment deal where EcoR1 purchased pre-funded warrants worth approximately $50 million. Platshon will also forgo the standard cash and equity compensation for directors and has been granted customary indemnification rights. The agreement also includes provisions for registration rights and potential liquidated damages, reinforcing the partnership between Zymeworks Inc. and EcoR1.
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