Terms include worldwide, exclusive rights to a preclinical candidate and nonexclusive license to phage-display technology.

Dyax’ granted sanofi-aventis an exclusive, worldwide license for the development and commercialization of its fully human mAb DX-2240 as well as a nonexclusive license to its antibody phage-display technology.

Dyax is eligible to receive up to $500 million in license fees and milestone payments in the case of full commercial success of the first five antibody candidates including DX-2240, which is in preclinical studies. Dyax will receive $25 million in 2008. In addition, Dyax is eligible to receive royalties based on commercial sales of DX-2240 and other antibodies developed by sanofi-aventis.

As exclusive licensee, sanofi-aventis will be responsible for the ongoing development, commercialization, and consolidation of sales of DX-2240. For certain other future antibody product candidates discovered by sanofi-aventis, Dyax will retain co-development and profit-sharing rights, while sanofi-aventis will maintain the leadership in development and commercialization and book sales worldwide.

DX-2240 targets the Tie-1 receptor on tumor blood vessels and has, according to the company, therapeutic potential in numerous oncology indications. The antibody works by altering tumor vascular morphology, thereby increasing hypoxia and necrosis. In addition, DX-2240 in vivo increases the antitumor activity of other cancer therapies such as VEGF pathway inhibitors and other chemotherapeutic agents when used in combination.

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