Dyax will also perform funded research on certain targets of Serono to identify therapeutic antibodies. Under the terms of the agreement, Dyax receives technology license fees and full-time employee payments from Serono for the funded research, as well as clinical milestone payments and royalties on net sales of any products that may result from Serono’s development and commercialization of antibodies from Dyax’s libraries.
The agreements also provide Serono with sublicenses to relevant third-party antibody phage display patents that may be used with Dyax’s technology.
Henry Blair, chairman and CEO of Dyax commented: “Dyax’s collaborations with many of the top biotechnology companies demonstrate the industry’s acknowledgement of our capabilities in protein-based therapeutics.” Mr Blair continued, “We believe Dyax’s technology will prove to be beneficial in expanding Serono’s pipeline of product candidates.”