Dyax enters into negotiation period with Dompe for European license for DX-88

Dyax Corp. (Nasdaq:DYAX) announced ahead of today’s opening it had entered an exclusive negotiation period with Dompe Farmaceutici S.p.A. for a European license to DX-88 in angioedema indications. Dompe entered a securities sales agreement with Dyax to purchase 2 million shares of Dyax common stock. The offering amounts to a total investment of $10 million and should close on July 17. Dyax is a Cambridg, Mass.-based biotechnology company with an emphasis on oncology and inflammation.

“We look forward to finalizing a partnership with Dompé for DX-88 in angioedema indications, and believe that their regulatory and commercial capabilities in Europe could add significantly to the DX-88 franchise worldwide,” said Henry Blair, chairman, president and CEO for Dyax, in a statement. “This agreement, if finalized, will be another step towards the completion of our DX-88 global strategy, which also includes a partnership with Cubist Pharmaceuticals for surgical indications, and our own commercial infrastructure for hereditary angioedema within the U.S.”

In today’s pre-market trading, Dyax shares are mostly flat, down about $0.05 at $3.45.

For detailed price information and recent news stories about Dyax Corp., click DYAX.

---