Roche entered a global licensing and collaboration agreement with Zymeworks for ZW209, a trispecific T cell engager targeting DLL3, with financial terms up to $813 million. Roche will pay $55 million upfront, with an additional $40 million upon initiation of a Phase Ib trial, and is eligible to pay further development, sales and commercialization milestones. Zymeworks retains a financial interest while Roche assumes responsibility for global development and commercialization. The asset uses Zymeworks’ engineered conditional CD28 engagement design, aimed at driving tumor-directed cytotoxicity while limiting unintended T-cell activation. The deal signals continued large-pharma investment into multi-specific antibody formats for oncology, including targets like DLL3 that are relevant to neuroendocrine and other aggressive tumors. For Zymeworks, it transitions an early program into a fully partnered global path while keeping near-term Phase Ia execution within the collaboration structure.