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Dyax inks $106M development deal with Japan's CMIC

Thu, 09/30/2010 - 5:34am
Mass High Tech: The Journal of New England Technology

Dyax Corp. has entered into a development and commercialization agreement worth a total of $106 million with Japanese firm CMIC Co. Ltd. to use subcutaneous DX-88 (ecallantide) to treat hereditary angioedema (HAE) and other angioedema indications in Japan.

The deal calls for CMIC to pay Cambridge-based Dyax (Nasdaq: DYAX) a $4 million up front fee and $102 million in future development and sales milestones. CMIC will take on all costs associated with development, regulatory activities and commercialization of DX-88 for all angioedema indications in Japan under the agreement. Dyax, in turn, is eligible to receive royalties of 20 percent to 24 percent on net product sales.

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