Dyax Unveils New Developments Related To Phage Display Technology

Dyax has unveiled new developments involving drug candidates identified using the company’s phage display technology as a result of two deals recently announced by sanofi-aventis.

Sanofi-aventis is planning to acquire Fovea Pharmaceuticals, Dyax’s partner for DX-88 in ophthalmic indications in the European Union (EU). Under the terms of the Dyax-Fovea partnership agreement, Fovea has exclusive rights to the intravitreal formulation of DX-88 in ophthalmic indications in the EU. Fovea will fully fund development for the retinal vein occlusion (RVO) induced macular edema program for approval in worldwide markets. Dyax has retained rights for ophthalmic indications for all territories outside the EU.

Separately, sanofi-aventis has entered into collaboration and licensing agreement with Merrimack Pharmaceuticals, a licensee under Dyax’s Licensing and Funded Research Program (LFRP), for rights to MM-121. It was identified using Dyax’s antibody phage display library and is currently in phase 1 development in oncology. Dyax is eligible to receive milestones associated with the development of MM-121, including royalties upon commercialization.

Reportedly, Dyax has a relationship with sanofi-aventis that began in February 2008, when sanofi-aventis licensed rights to its human monoclonal antibody DX-2240 and to the phage display technology in a deal valued up to $500m for Dyax. Dyax received $25m in upfront payments in 2008.

Gustav Christensen, president and CEO of Dyax, said: “We are pleased that DX-88 in retinal disease has been recognized as a key asset in the proposed acquisition of Fovea. Furthermore, these deals, which involve two drug candidates generated from our proprietary phage display libraries, further validate our technology as an important drug discovery platform.”