Zymeworks shares rose 11% after All Blue Capital appointed Siddhartha Mokherjee MD, as its medical advisor to support the proposed $10.50 share purchase offer.

Dr. Mukherjee, Associate Professor of Medical in the Division of Hematology/Oncology of Columbia University Medical Center in New York City is.

All Blue Capital also urged Zymeworks’ board to hire a medical advisor and to discuss the offer to takeover in a letter.

Matthew Novak, All Blue Capital’s Managing Partner, wrote that Zymeworks’ inability to engage was “surprising” and “disappointing.”

Novak stated, “As significant Zymeworks investors, we believe Zymeworks shareholders merit better than the constant value destruction they have experienced.” Our proposal continues to deliver compelling, immediate value for Zymeworks shareholders. We expect the Board of Directors to engage promptly with us in order to review the transaction.