Biotech, deals, monoclonal antibodies

Dyax Inks Potential $500M Deal With Sanofi-Aventis

Robert Buderi 2/12/08

Cambridge, MA-based biotech company Dyax (NASDAQ:DYAX) announced today it had signed a pair of licensing agreements with French drugmaker Sanofi-Aventis potentially worth $500 million. The deals, which involve a $25 million payment this year, grant the French company an exclusive worldwide license for the development and commercialization of Dyax’s fully human monoclonal antibody DX-2240, as well as a nonexclusive license to its antibody phage display technology. Dyax’s stock was up $0.72 (more than 20 percent) in late morning trading, to $4.28.