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Dyax and Serono Announces Agreements for Discovery of Therapeutic Antibodies

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Dyax Corp. has announced that it has granted a non-exclusive license to its proprietary antibody phage display libraries to Serono for the discovery and development of therapeutic antibodies.

In addition, Dyax will perform funded research on certain targets of Serono to identify therapeutic antibodies.

Under the terms of the agreement, Dyax receives technology license fees and full-time employee payments from Serono for the funded research, as well as clinical milestone payments and royalties on net sales of any products that may result from Serono's development and commercialization of antibodies from Dyax's libraries.

The agreements also provide Serono with sublicenses to relevant third-party antibody phage display patents that may be used with Dyax's technology.

Henry E. Blair, Chairman and Chief Executive Officer of Dyax commented, "We are very excited to have entered into an agreement with Serono, one of the world's leading biotechnology companies."

"Dyax's collaborations with many of the top biotechnology companies demonstrate the industry's acknowledgement of our capabilities in protein-based therapeutics."

Mr. Blair continued, "We believe Dyax's technology will prove to be beneficial in expanding Serono's pipeline of product candidates."