Zymeworks IPO bears good tidings for Canadian biotechnology – The Globe and Mail

A Toronto Stock Exchange (TSX) logo is seen in Toronto November 9, 2007. (Mark Blinch / Reuters) A Toronto Stock Exchange (TSX) logo is seen in Toronto November 9, 2007. (Mark Blinch / Reuters) Subscribers Only

Sean Silcoff

OTTAWAThe Globe and Mail

Published Sunday, Jun. 04, 2017 3:36PM EDT

Last updated Sunday, Jun. 04, 2017 3:39PM EDT

The Canadian biotechnology business is a picture of good health.

On Friday, management of Vancouver-based cancer therapy developer Zymeworks Inc. rang the bell on the Toronto Stock Exchange, five weeks after its stock debuted in a $59-million (U.S.) initial public offering in Canada and on the New York Stock Exchange. It was by far the largest biotech IPO on a Canadian exchange in a decade and came on the heels of one of the largest stock offerings ever by a Canadian biotech firm, after dual-listed lupus-drug developer Aurinia Pharmaceuticals Inc. raised $150.5-million in March.

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Zymeworks IPO bears good tidings for Canadian biotechnology - The Globe and Mail