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Dyax Forms Parternership With CMIC To Develop, Commercialize Subcutaneous DX-88 For Hereditary Angioedema - Quick Facts

September 30, 2010, Thursday, 14:44 GMT | 09:44 EST | 18:14 IST | 20:44 SGT

(RTTNews) - Biopharmaceutical company Dyax Corp. (DYAX) Thursday said it has formed a partnership with CMIC Co., Ltd, to develop and commercialize subcutaneous DX-88 for the treatment of hereditary angioedema and other angioedema indications in Japan.

DX-88, or ecallantide, has been approved by the U.S. Food and Drug Administration and is marketed as KALBITOR for the treatment of acute attacks of hereditary angioedema in patients 16 years of age and older.

Under the terms of the agreement, Dyax will receive $4 million upfront and $102 million in future development and sales milestones for DX-88 in hereditary angioedema and other angioedema indications. CMIC is solely responsible for all costs associated with development, regulatory activities, and commercialization of DX-88 for all angioedema indications in Japan.

In addition, CMIC will purchase drug product from Dyax on a cost-plus basis for clinical and commercial supply. Dyax is also eligible to receive royalties of 20%-24% on net product sales.