Dyax Inks Deal With CMIC

9/30/10

Cambridge, MA-based biotech Dyax (NASDAQ: DYAX) announced it has inked a deal with Japanese contract research organization CMIC to develop and commercialize its drug DX-88 (ecallantide), a treatment for the inflammatory disease hereditary angioedema, in Japan. CMIC will pay Dyax $4 million upfront and $102 million in development and sales milestones for the FDA-approved treatment, marketed as Kalbitor, and is responsible for all costs surrounding development, regulatory activities, and commercialization of the drug for angioedema conditions in Japan. In turn, CMIC could receive royalties ranging from 20 percent to 24 percent of the net sales of DX-88.

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