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Dyax Corp. (NASDAQ:DYAX) and Eclipse Therapeutics, Inc., a privately held oncology company, announced today that Dyax has granted Eclipse an exclusive worldwide license for the development and commercialization of preclinical fully-human antibodies discovered using Dyax’s gold-standard phage display technology for use in oncology indications. In exchange, Dyax will receive an initial license fee, payments upon the achievement of clinical development and sales milestones, and royalties on worldwide net sales resulting from commercialized products.
“We are excited to license this program to Eclipse, a leader in the development of innovative therapies that target cancer stem cells. This agreement reflects our strategy to maximize the value of our technology by partnering with companies that have a unique expertise to drive the development of promising antibody drug candidates,” stated Gustav A. Christensen, President and Chief Executive Officer of Dyax. “This agreement further underscores the significant long-term potential of our robust licensing and funded research program, which continues to be a key driver of near- and long-term value creation for Dyax with 18 therapeutic candidates currently in the clinic, including four in Phase 3 and four in Phase 2.”
“This agreement provides Eclipse with multiple high-value antibody candidates targeting cancer stem cells (CSC) developed using Eclipse’s unique
CSC Rx Discovery™ platform and Dyax’s proven phage display technology,” stated Peter Chu, Ph.D., President and Co-founder of Eclipse. “Our oncology pipeline focuses on identifying functional therapeutics that specifically inhibit CSC targets critical to the maintenance of cancer stem cells at the root of cancer. Dyax’s expertise in antibody therapeutic discovery accelerates these efforts, allowing us to expand our library of product candidates.”
About Dyax’s Phage Display
Dyax’s phage display technology has powered therapeutic and diagnostic candidate discovery across a wide range of therapeutic areas. For more than 15 years, Dyax has developed and improved the tools that enable the effective and rapid screening of its proprietary, state-of-the-art, antibody or peptide libraries, each containing billions of members to identify candidate molecules fitting exacting and challenging sets of lead candidate criteria.