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.”