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GEN News Highlights : May 31, 2011

Defiante Takes Over Additional Territories for Marketing Dyax' HAE Drug

Dyax received $7 million in exchange for rights in most of Latin America, Taiwan, Singapore, and South Korea.

Dyax and Defiante Farmaceutica launched a $17 million expansion of their strategic partnership for Kalbitor®, a treatment for hereditary angioedema (HAE) and other indications. The new deal gives Defiante development and commercialization rights to the drug in Latin America excluding Mexico and the Caribbean as well as Taiwan, Singapore, and South Korea.

Defiante already holds development and commercialization rights to Kalbitor in Europe, North Africa, Middle East, Russia, Australia, and New Zealand. Dyax retains rights in other territories including the U.S., where it is approved for acute attacks of HAE in patients 16 years of age and older. Dyax is also testing Kalbitor either alone or through partnerships in other indications including drug-induced angioedema and retinal vein occlusion-induced macular edema.

Under the expansion agreement, Dyax will receive a $7 million up-front payment from Defiante. Dyax is also eligible to receive up to $10 million based on meeting regulatory, approval and reimbursement milestones.

Consistent with their existing agreement, Dyax may also earn sales milestones and royalties equal to 41% of net sales of Kalbitor less cost of goods sold. Defiante is responsible for costs associated with regulatory approval and commercialization in all its territories.