Dyax Corp. and Debiopharm S.A. Restructure Development Agreement for DX-890 (Depelestat) in Pulmonary Disorders
Dyax Corp. and Debiopharm S.A. announced the restructuring of their long-standing development agreement for DX-890 (Depelestat), a recombinant inhibitor of human neutrophil elastase (hNE) discovered by Dyax and developed by Debiopharm, for the treatment of pulmonary disorders. Under the terms of the restructured agreement, Debiopharm will have exclusive worldwide rights for the development, manufacture and commercialization of a native form of DX-890 in cystic fibrosis (CF) and acute respiratory distress syndrome (ARDS).
Dyax will retain rights to milestones and royalties with respect to Debiopharm's DX-890 programs, as well as the exclusive worldwide rights to extended half-life versions of DX-890 for development, manufacturing and commercialization in other chronic pulmonary indications such as chronic obstructive pulmonary disease (COPD). Dyax will receive a milestone payment upon execution of the agreement in connection with Debiopharm's recent initiation of Phase I clinical studies in ARDS patients. Other financial details were not disclosed.
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