Chuckle.
Dyax Corp. and ICOS Corporation Enter Into License Agreement for Discovery of Therapeutic Antibodies
Monday May 22, 7:30 am ET
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 22, 2006--Dyax Corp. (Nasdaq: DYAX - News) announced today that it has granted a non-exclusive license to its proprietary phage display libraries to ICOS Corporation (Nasdaq: ICOS - News) for the discovery and development of therapeutic antibodies. Under the terms of the agreement, Dyax receives technology license fees from ICOS, as well as clinical milestone payments and royalties on net sales of any products that may result from ICOS's use of the Dyax libraries. The agreement provides ICOS with a license to Dyax's antibody phage display technology and patent rights, as well as sublicenses to relevant third-party antibody phage display patents that may be used with Dyax's technology.
Henry E. Blair, Chairman and Chief Executive Officer of Dyax commented, "I'm pleased with the industry recognition of the value of our antibody technology and the sustained growth in Dyax's revenue-generating collaborations, as evidenced by this addition of ICOS to our long list of licensees. This arrangement will allow ICOS to utilize Dyax's state-of-the-art libraries of fully human monoclonal antibodies. We look forward to working with the talented team at ICOS, and to potential products moving forward under this license."
About Dyax
Dyax is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis on cancer and inflammatory indications. Dyax utilizes its proprietary drug discovery technology to identify antibody, small protein and peptide compounds for clinical development.
Dyax's lead product candidate is DX-88, a recombinant small protein that is currently in clinical trials for its therapeutic potential in two separate indications. In its joint venture with Genzyme Corporation, Dyax has successfully completed three Phase II trials of DX-88 for the treatment of hereditary angioedema (HAE). A Phase III trial is ongoing. Independently, Dyax has successfully completed a Phase I/II trial of DX-88 for the prevention of blood loss during heart surgery (CABG procedures) and is planning a Phase IIb trial while it continues partnering discussions for further development of DX-88 in this indication. DX-88 has orphan drug designation in the U.S. and E.U. for the treatment of angioedema, as well as Fast Track designation in the U.S.
Dyax identified DX-88 and other compounds in its pipeline using its patented phage display technology, which rapidly selects compounds that bind with high affinity and specificity to therapeutic targets. Dyax leverages this technology broadly with over 75 revenue generating licenses and collaborations for therapeutic discovery, as well as in non-core areas such as affinity separations, diagnostic imaging, and research reagents.... |
