Dyax and Glenmark forge Ab development deal

USA-based Dyax and Glenmark Pharmaceuticals SA, the wholly-owned Swiss subsidiary of Glenmark Pharmaceuticals, have entered into a funded research agreement that will focus on the development of therapeutic antibodies. Glenmark will initially provide three targets for the research, with provision made for expansion of the program in the future.

Under the terms of the accord, Dyax will perform all the research using its antibody library, in return for a technology license fee and clinical milestone payments. The US firm is also entitled to royalties on any products that are successfully brought to market. In addition, the deal provides Glenmark with sublicenses to relevant third-part phage display patents that may be used with the licensed technology.

The firms expect the first products arising from the partnership, financial terms of which were not provided, to enter clinics in 2009.