Dyax Announces Antibody Discovery Collaboration with Biogen Idec
Wednesday November 10, 7:30 am ET
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 10, 2004--Dyax Corp. (NASDAQ: DYAX - News) today announced a research collaboration to provide Biogen Idec (NASDAQ: BIIB - News) with access to Dyax's fully human antibody libraries for the purpose of identification and characterization of therapeutic and/or diagnostic antibodies against up to thirty Biogen Idec protein targets per year. Under the terms of the agreement, Biogen Idec is providing research funding to Dyax for a minimum three-year period.
Biogen Idec retains rights to develop and commercialize antibodies identified in the collaboration, and Dyax will receive development milestone payments, as well as royalty payments upon successful commercialization by Biogen Idec of products based on antibodies identified by Dyax. Biogen Idec is focused on creating new standards of care in neurology, oncology and immunology.
"I'm very pleased to enter into this collaboration with Biogen Idec, and believe that Dyax's state-of-the-art libraries and high throughput screening technology will provide rapid results, to the benefit of both companies," remarked Henry E. Blair, Chairman, President and CEO of Dyax Corp... |
