Dyax in up to $500M deal with Sanofi
US drug discovery firm Dyax has granted exclusive worldwide rights for the development and commercialization of its fully-human monoclonal antibody DX-2240 to French drug giant Sanofi-Aventis. The deal also includes a global non-exclusive license to the US group's proprietary antibody phage display technology.
Under the terms of the accords, Dyax could receive up to $500.0 million in license fees and milestone payments, in the case of full commercial success of the first five antibody candidates, including DX-2240 for which $25.0 million is due in 2008. Dyax will receive royalties on net sales on antibody candidates. Sanofi will be responsible for development, registration and commercialization.
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