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DYAX GETS EXCLUSIVE RIGHTS RELATED TO INFLAMMATION TARGET.

Dyax Corp. (Nasdaq: DYAX), Cambridge, Mass., a biopharmaceutical company, has obtained exclusive rights from The Center for Blood Research to develop and commercialize therapeutic products aimed at an undisclosed inflammatory disease target. The target, a cell surface adhesion protein, is considered an essential mediator of inflammation. Dyax also has the option to license additional adhesion molecules discovered in the laboratory of Dr. Timothy Springer at the Center for Blood Research. Financial terms of the arrangements were not disclosed.

In its activated form, the protein directs immune cells to migrate into inflamed tissue. In some diseases, such as rheumatoid arthritis and other autoimmune diseases, this movement becomes uncontrolled and needs to be stopped. Dyax will focus on identifying potential peptide and protein therapeutic products that could specifically block only the active form of this protein and stop the inflammatory response.

Dyax has established a research collaboration with Dr. Springer of the Center for Blood Research as part of this agreement. Dr. Springer is a well-recognized expert in immune cell processes and adhesion molecules. Work in his laboratory has clarified important elements of immune cell function and is the basis for a number of drug discovery programs. Dyax, in collaboration with Dr. Springer, will employ its phage display technology to identify compounds that specifically bind to the target.

"We are very pleased to be able to collaborate with Dr. Springer, a well recognized expert in immunology and leukocyte biology, and his associates at the Center," said Henry E. Blair, chairman and CEO of Dyax Corp. "The collaboration represents another opportunity for Dyax to move ahead in the development of potential drugs for the treatment of inflammation. The arrangement is consistent with our strategy of acquiring well characterized targets aimed at the development of powerful new treatments."

Dyax Corp.

Dyax Corp. is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products. The company uses its patented phage display technology to identify a broad range of protein, peptide, and antibody compounds with potential to treat a variety of inflammatory diseases and cancers. Dyax has two protein product candidates, each for a different inflammatory disease, in early stage clinical trials and is about to begin clinical trials for one of these therapeutic candidates in another indication. Dyax leverages its technology broadly through licenses and collaborations in therapeutics and in non-core areas of affinity separations, diagnostics and imaging, and research reagents. Through its subsidiary, Biotage, Inc., Dyax develops, manufactures and sells chromatography separations systems and products worldwide for pharmaceutical purification.

The Center for Blood Research.

The Center for Blood Research, founded in 1953, is an independent, nonprofit biomedical research institute in Boston, Mass. Its world-class investigators are pioneers in exploring how the immune system regulates itself - work that will have profound clinical implications for millions of patients suffering from diseases such as cancer, heart disease, tuberculosis, HIV/AIDS, cystic fibrosis, Lupus, stroke, and immunodeficiency and autoimmune diseases. It concentrates its research in eight areas: adhesion molecules, autoimmunity, biomedical imaging systems, cell biology, genetics of the immune system, HIV/AIDS, immunodeficiency, and tuberculosis. CBR has 18 laboratories and places fourth in average size of NIH awards among its 88 colleagues in the Association of Independent Research Institutions. Four of its investigators are members of the National Academy of Sciences.

For more information, call (617)250-5802 or visit http://www.dyax.com
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Comment:DYAX GETS EXCLUSIVE RIGHTS RELATED TO INFLAMMATION TARGET.
Publication:Biotech Business
Geographic Code:1USA
Date:May 1, 2002
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