Dyax Announces Expansion of Antibody Discovery Collaboration with Biogen Idec
Dyax Corp. announced that they have expanded their antibody funded research and library license agreement with Biogen Idec to include the discovery of additional antibody products identified using Dyax’s proprietary drug discovery technology, phage display.
Dyax has utilized phage display to generate on behalf of Biogen Idec high affinity, fully human antibody product candidates, including BIIB-022, currently in Phase 1 clinical trials for oncology, and one additional product candidate targeting LINGO-1 for multiple sclerosis moving into the clinic. Under the terms of the expanded agreement, Dyax has guaranteed a minimum of ten additional product licenses to Biogen Idec.
Additionally, Dyax has granted Biogen Idec a non-exclusive license to its antibody libraries and will conduct antibody discovery funded research over a three-year period. In exchange, Dyax will receive a $5 million upfront fee and guaranteed research funding, and is eligible to receive $85 million in development and sales milestones as well as royalties for each antibody product commercialized by Biogen Idec using Dyax’s technology.
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