Dyax Acquires Exclusive Rights Related to Angiogenesis Target
CAMBRIDGE, Mass.--(BW HealthWire)--Nov. 27, 2001--Dyax Corp. (Nasdaq: DYAX - news), a biopharmaceutical company, today announced that it has obtained exclusive rights from Licentia Ltd. to develop antibody drugs and diagnostic products aimed at an undisclosed angiogenesis target. Angiogenesis, or the formation of new blood vessels, contributes to the uncontrolled growth of cancer. The process is also implicated in other diseases such as inflammatory and cardiovascular disorders.
Dyax has also established a research collaboration with Dr. Kari Alitalo of the University of Helsinki as part of this agreement. Dyax, in collaboration with Dr. Alitalo, will use its phage display technology to identify human antibodies or other compounds that specifically bind to the angiogenesis target. Inhibition of the target may control the formation of new tumor blood vessels, thereby inhibiting further tumor growth. Dyax plans to develop selected compounds as drug candidates for clinical development and commercialization. Financial terms of the arrangements were not disclosed.
``We are delighted to collaborate with Dr. Alitalo, a highly recognized scientist in angiogenesis research,'' said Henry E. Blair, Chairman and CEO of Dyax Corp. ``We are excited about the prospect of developing drugs that interfere with angiogenesis, an emerging area of medical research with the potential for powerful new treatments in cancer and other diseases. This collaboration demonstrates a further step for Dyax in our strategy to acquire targets aimed at the development of therapeutic candidates.''
Dyax Corp.
Dyax Corp. is a biopharmaceutical company that has developed and patented phage display technology with applications in the discovery and development of a broad range of compounds for the treatment and diagnosis of diseases and for the purification and manufacture of biopharmaceuticals and other chemicals. Through the use of phage display technology, Dyax's scientists, collaborators and licensees seek to discover peptides and proteins, including human antibodies, that bind tightly to specific molecular targets. Dyax, through a subsidiary, also develops, manufactures and sells chromatography separations systems and products under the Biotage trade name. For additional information, visit www.dyax.com.
Licentia Ltd.
Licentia Ltd. focuses on licensing and commercialization of scientific inventions and research results originating mainly from Finnish universities and research institutes to companies all over the world. For industrial companies, Licentia offers a channel to new technologies by offering the possibility to benefit from scientific innovations and to utilize them to develop new products and competitive production methods... |
