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Biotech / Medical : DYAX: Dyax Corp.

DYAX 38.41

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Jan 25 4:00 PM EST

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From: mlkr	6/21/2010 11:07:34 AM
	of 197

6:32AM Dyax and Sigma-Tau announce partnership to develop and commercialize subcutaneous DX-88 for hereditary angioedema (DYAX) 2.68 : The co and Defiante Farmaceutica S.A., a subsidiary of the pharmaceutical company Sigma-Tau SpA, announced today a strategic partnership to develop and commercialize subcutaneous DX-88 for the treatment of hereditary angioedema and other therapeutic indications throughout Europe, North Africa, Middle East and Russia. Dyax retains its rights to subcutaneous DX-88 in other territories, including the U.S., where DX-88 has been approved by the U.S. Food and Drug Administration and is marketed as KALBITOR for the treatment of acute attacks of HAE in patients 16 years of age and older. Under the terms of the agreement, Sigma Tau will make a $2.5 mln upfront payment to Dyax and will purchase $2.5 mln in equity shares at a 50% premium above market value. Dyax will also be eligible to receive over $100 mln in development and sales milestones related to DX-88 and royalties equal to 41% of net sales of product.

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