12 Nov 2007 - Dyax Corp. announced the extension of the antibody library collaboration with ImClone Systems Incorporated for the discovery of therapeutic antibodies. Under the terms of this agreement, ImClone will continue to have access to Dyax's proprietary phage display technology for an additional four years.
To date, ImClone has successfully advanced into Phase 2 clinical trials three fully human monoclonal antibodies against EGFR, IGF-1R and KDR that were identified using Dyax's proprietary technology. Under the extended agreement, Dyax will continue to receive annual license fees from ImClone, as well as clinical milestone payments and royalties on net sales that may result from ImClone's development and commercialization of antibodies from Dyax's libraries.
"Dyax's powerful proprietary phage display technology has attracted a large portfolio of companies that have demonstrated a commitment to develop antibody therapeutic products. ImClone's expertise in this area is impressive, and we are excited for the three Dyax-based antibody programs in ImClone's clinical pipeline, as well as other potential candidates in the future," commented Henry E. Blair, Chairman, President and Chief Executive Officer of Dyax. "This extended agreement with ImClone validates the strength of our proprietary technology in successfully identifying human monoclonal antibodies in key therapeutic areas."
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