Dyax Corp. Grants Use of its Antibody Phage Display Libraries to Tanox, Inc. for Therapeutic Antibody Development
Monday November 29, 7:30 am ET
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 29, 2004--Dyax Corp. (Nasdaq: DYAX - News) announced today that it has granted a non-exclusive license to its proprietary antibody phage display libraries to Tanox, Inc. Tanox, which specializes in the development of biotherapeutics for asthma, allergy, oncology, inflammation and infectious disease, intends to utilize the Dyax libraries to identify fully human monoclonal antibodies that bind with high specificity and affinity to a number of its undisclosed targets. Under the terms of the agreement, Dyax will receive an up front license fee, annual technology license fees, clinical milestone payments, and royalties upon successful commercialization by Tanox of products based on antibodies identified from the Dyax libraries.
"We are very pleased to provide Tanox with a license to our high quality antibody libraries, which we expect will yield promising leads. The agreement contributes to Dyax's objective of leveraging our core technology to generate revenue, and is the seventh antibody collaboration that Dyax has entered into this year," stated Henry E. Blair, Chairman, President and CEO of Dyax Corp... |
