Dyax and Fovea Sign Development and Commercialization Agreement for DX-88 in Ophthalmic Indications
Dyax Corp. and Fovea Pharmaceuticals, SA announced that they have entered into an exclusive license agreement for the development and commercialization of an ocular formulation of DX-88 for the treatment of retinal diseases.
The license grants Fovea exclusive marketing rights for DX-88 in ophthalmic indications in the European Union (EU). Dyax retains marketing rights for these indications for all territories outside the EU. Under the terms of the agreement, Fovea will fund development of DX-88 for the treatment of RVO-induced macular edema (Retinal Vein Occlusion) for approval in worldwide markets. For all other ophthalmic uses of DX-88, Fovea will be responsible for developing DX-88 to meet EU regulatory requirements and Dyax will be responsible for any additional requirements needed to obtain approval in territories outside the EU. Financial provisions of the agreement call for each company to pay the other a tiered royalty on net sales of DX-88 in their respective territories.
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