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news.Dyax has entered into an exclusive negotiation period ending on September 30, 2008 with Dompe Farmaceutici for a European license to DX-88 in angioedema indications, including hereditary angioedema, for which the company recently completed its second Phase III trial.
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As a condition for the exclusive negotiation rights, Dompe entered into a securities sale agreement with Dyax to purchase two million shares of Dyax common stock in a private placement at $4.98 per share, which represents a 57% premium over the closing price on July 10, 2008.
The offering, which represents a total investment of $10 million, is expected to close on July 17, 2008.
Henry Blair, chairman, president and CEO of Dyax, said: “This agreement, if finalized, will be another step towards the completion of our DX-88 global strategy, which also includes a partnership with Cubist Pharmaceuticals for surgical indications, and our own commercial infrastructure for hereditary angioedema within the US.”