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Cambridge Antibody and Dyax expand phage display license.

Cambridge Antibody Technology (Cambridge, England) and Dyax Corporation (Cambridge, MA) announce an agreement to expand access and freedom to operate under each other's phage display patents.

This agreement expands upon those reached in 1997 under which Dyax licensed its Ladner phage display patents to Cambridge Antibody and Cambridge Antibody granted certain limited rights to Dyax under antibody phage display patents controlled by Cambridge Antibody. Under the terms of this expanded agreement, Cambridge Antibody is granting Dyax worldwide licenses for research and certain other purposes under all the antibody phage display patents controlled by Cambridge Antibody. Dyax will also receive options for licenses to develop therapeutic and diagnostic antibody products under Cambridge Antibody's patents. In return, Cambridge Antibody will receive milestone and royalty payments on antibody products advanced into clinical trials by Dyax and Dyax's customers. Cambridge Antibody also gains the option to co-fund and co-develop with Dyax antibodies discovered by Dyax, as well as the right to share in Dyax's revenues from certain other applications of antibody phage display.

In addition, Cambridge Antibody's obligation to pay royalties under the 1997 Agreements to Dyax for rights with respect to Dyax's Ladner patents on antibody products Cambridge Antibody develops is removed, except in relation to Humira. Cambridge Antibody has options to buy out under a predetermined schedule any royalty obligation which Cambridge Antibody may have in respect of Humira.

Peter Chambre, Cambridge Antibody's Chief Executive Officer, commented, "We are delighted to have reached this agreement with Dyax and are particularly pleased with the associated reduction in Cambridge Antibody's royalty burden. Importantly also the agreement enables Cambridge Antibody to share in Dyax' success as it develops products under the license in the future. This agreement is further evidence of Cambridge Antibody's commitment to licensing its phage antibody patent portfolio; it is the third patent licensing agreement we have executed in the last month."

Jack Morgan, Senior Vice President of Dyax, commented: "We believe this agreement will expand pharmaceutical and biotechnology companies' access to state-of-the-art technology and ultimately benefit patients by facilitating expanded discoveries utilizing antibody phage display. This represents the fourth and most important patent cross licensing agreement Dyax has entered into over the past ten months. We are particularly excited to utilize the options to develop therapeutic antibodies for both Dyax's pipeline and for our customers."

Cambridge Antibody Technology +44-1223-471-471

Dyax Corporation +1-617-250-5762
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Title Annotation:Cambridge Antibody Technology and Dyax Corp.
Publication:BIOTECH Patent News
Geographic Code:4EUUK
Date:Jan 1, 2003
Words:391
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