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7:46AM Dyax: Genzyme to exercise option to acquire 50% of DX-88 program (DYAX) 4.00: Announces that Genzyme Corp (GENZ) plans to exercise its option to acquire a 50 percent interest in the DX-88 program for the potential treatment of hereditary angioedema and potentially other chronic inflammatory indications. DX-88 is in phase II clinical trials for H.A.E., a rare disease characterized by acute episodic attacks of subcutaneous, abdominal and/or laryngeal swelling.
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Dow Jones Business News
Genzyme And Dyax Announce Joint Venture For DX-88 In Hereditary Angioedema
Tuesday June 24, 7:46 am ET
CAMBRIDGE, Mass. -(Dow Jones)- Genzyme Corp.'s Genzyme General plans to exercise its option to acquire a 50% stake in Dyax Corp.'s DX-88 protease inhibitor hereditary angioedema treatment.
Hereditary angioedema is a rare disease characterized by acute episodic attacks of subcutaneous, abdominal and/or laryngeal swelling.
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In a press release Tuesday, Genzyme said it based its decision on the results of a 9-patient European Phase II clinical trial announced in March, in which all subjects met the primary endpoint.
Under the joint venture, both companies will share in the future development costs of DX-88 and Genzyme will make milestone payments to Dyax upon the dosing of the first patient in a pivotal Phase III trial, regulatory approval of the first indication and successive regulatory approval of any additional chronic inflammatory indications.
Assuming the drug gets regulatory approval, Genzyme will market DX-88 worldwide, and the companies will evenly split the profits from sales for the treatment of hereditary angioedema and other chronic inflammatory diseases.
A 48-patient, double-blind placebo-controlled dose escalating Phase II study of DX-88 is currently underway in the U.S. The first of four dose cohorts is completed and the second cohort has begun treatment.
DX-88 has received orphan drug designation for the treatment of angioedema by both U.S. and European regulatory authorities.
Company Web sites: genzyme.com and dyax.com
-Andrew Wallmeyer; Dow Jones Newswires; 201-938-5400
In March, Dyax exercised its option to purchase all rights to DX-88 in surgical applications from Genzyme. DX-88 is currently in trials studying its ability to reduce blood loss during surgical procedures, specifically heart bypass surgery.
-Andrew Wallmeyer; Dow Jones Newswires; 201-938-5400
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