Dyax Announces Collaboration withBaxter to Discover Anti-MIF Antibody
CAMBRIDGE, Mass., -- Dyax Corp. announced a research collaboration with Baxter Healthcare Corporation to utilize Dyax's proprietary phage display technology to discover antibodies that block macrophage migration inhibitory factor (MIF), a clinical target to which Baxter has an exclusive license from Cytokine PharmaSciences, Inc.
Under the terms of the agreement, Dyax and Baxter will conduct a research program to identify and characterize antibodies that bind specifically to MIF and neutralize its activity. MIF is a cytokine involved in immune, infectious and malignant disorders. Neutralizing MIF activity may be useful in the treatment of a wide spectrum of diseases, including asthma, severe infections and certain types of cancers.
Baxter has an exclusive right to develop and commercialize therapeutic products based on any antibodies that Dyax identifies. Baxter will fund Dyax to perform its portion of the research program and will pay milestones if the antibodies identified by Dyax meet certain preclinical performance criteria. In addition, Dyax will be entitled to receive contingency based milestones and royalty payments for a specified period of time upon Baxter's successful commercialization of any therapeutic products based on antibodies identified by Dyax.
"Our collaboration with Baxter contributes to Dyax's objective of expanding revenue-generating research collaborations. It provides further validation of Dyax's antibody discovery technology, an asset enhanced by our in-licenses of key third party antibody phage display patents," said Henry E. Blair, Chairman, President and CEO of Dyax Corp. He added, "Given the success of anti-cytokine biopharmaceuticals, we are extremely pleased to enter into this collaboration with Baxter to discover anti-MIF antibodies."
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