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Cambridge biotech Dyax Corp. (Nasdaq: DYAX) has formed a research deal with South San Francisco biotech FivePrime Therapeutics Inc. aimed at discovering therapeutic antibodies.

The deal calls for Dyax’s phage display technology – made to track interactions between compounds and treatments – to be used in therapeutic antibody discovery from FivePrime targets. In return, Dyax stands to receive licensing fees, employee payment, milestone payments and royalties on potential commercialization of antibodies stemming from the research. The specific financial terms were not disclosed.

SOURCE

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