New book by Larry Connors Click here Improve your trading - See how
In a release, the Company noted:
Sanofi-aventis announced plans to acquire Fovea Pharmaceuticals, Dyax's partner for DX-88 in ophthalmic indications in the European Union (EU). DX-88 (FOV 2302), one of Fovea's three pipeline products, is in Phase 1 development for the treatment of retinal vein occlusion (RVO) induced macular edema. Under the terms of the Dyax-Fovea partnership agreement, Fovea has exclusive rights to the intravitreal formulation of DX-88 in ophthalmic indications in the EU. Fovea will fully fund development for the RVO induced macular edema program for approval in worldwide markets. Dyax retained rights for ophthalmic indications for all territories outside the EU.
Separately, sanofi-aventis announced an exclusive collaboration and licensing agreement with Merrimack Pharmaceuticals, a licensee under Dyax's Licensing and Funded Research Program (LFRP), for rights to MM-121. The fully human monoclonal antibody, MM-121, was identified using Dyax's proprietary antibody phage display library and is currently in Phase 1 development in oncology. Dyax is eligible to receive milestones associated with the development of MM-121, as well as royalties upon commercialization. To date, one marketed product and fifteen product candidates in various stages of development have been identified using Dyax's proprietary phage display libraries under the LFRP.
Dyax already has a relationship with sanofi-aventis which began in February 2008 when sanofi-aventis licensed rights to Dyax's fully human monoclonal antibody DX-2240 and to the company's proprietary phage display technology in a deal valued up to $500 million for Dyax. Dyax received $25 million in upfront payments in 2008.
"We are pleased that DX-88 in retinal disease has been recognized as a key asset in the proposed acquisition of Fovea," said Gustav A. Christensen, President and Chief Executive Officer of Dyax. "Furthermore, these deals, which involve two drug candidates generated from our proprietary phage display libraries, further validate our technology as an important drug discovery platform."
Dyax's proprietary drug discovery platform, phage display, provides an efficient means to identify compounds that interact with an array of therapeutic targets. Dyax's discovery capabilities have been further enhanced through automation, which has enabled the Company to evaluate a number of molecules binding to each target. In this way, Dyax is able to identify and select a specific antibody, peptide or small protein with the desired biochemical and biological characteristics. Dyax's antibody phage display libraries allows for the rapid isolation of fully human target-specific antibodies from a library of billions of antibodies. These libraries are screened using in vitro selection strategies that are tailored to increase the yield of lead candidates with the desired therapeutic properties.
Dyax is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis on inflammatory and oncology indications.
((Comments on this story may be sent to health@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
