Under the terms of the agreement, Dyax receives technology license fees from ICOS, as well as clinical milestone payments and royalties on net sales of any products that may result from ICOS's use of the Dyax libraries.
The agreement provides ICOS with a license to Dyax's antibody phage display technology and patent rights, as well as 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, "I'm pleased with the industry recognition of the value of our antibody technology and the sustained growth in Dyax's revenue-generating collaborations, as evidenced by this addition of ICOS to our long list of licensees."
"This arrangement will allow ICOS to utilize Dyax's state-of-the-art libraries of fully human monoclonal antibodies. We look forward to working with the talented team at ICOS, and to potential products moving forward under this license."