Dyax and Genzyme end HAE accord

Dyax Corp said that it has reached an agreement with fellow USA-based firm Genzyme to terminate their collaboration on the development and commercialization of DX-88 as a treatment for hereditary angioedema. The end of the accord stipulates that Dyax receives a $17.0 million cash payment, as well as all the assets of the joint venture that the companies established, and 100% ownership of the drug.

Both firms said that decision to end the partnership had been mutual, with Genzyme president Henri Termeer commenting that the company's maintenance of an equity interest in Dyax was indicative of its continued belief in the approvability of the product.