MorphoSys and Dyax Sign License Agreement on Antibody-related Patents
MorphoSys AG (Frankfurt Stock Exchange: MOR; Prime Standard Segment)
and Dyax Corp. (NASDAQ: DYAX) today announced the signing of a
licensing agreement covering a broad patent portfolio relating to
antibodies and other proteins. The agreement grants MorphoSys a
fully paid-up license to a variety of phage display-related patents
from Dyax as well as other patents, including several relating to
methods for displaying and selecting antibodies and other proteins
through the use of alternative types of display. As part of the
license agreement, MorphoSys gains the right to sublicense the
patents in conjunction with its proprietary technology. The license
agreement provides MorphoSys with flexibility for future technology
development to further diversify its antibody technology portfolio
and improve its offering for therapeutic, diagnostic and research
customers. Financial terms were not disclosed.
"We are very pleased about this agreement with Dyax, which provides
us even greater flexibility for our future technology development
plans," commented Dr. Marlies Sproll, Chief Scientific Officer of
MorphoSys AG.
Henry E. Blair, Chairman, President and Chief Executive Officer of
Dyax, stated, "This agreement with MorphoSys recognizes the true
value of our intellectual property portfolio as our powerful
proprietary display technologies continue to be attractive to many
companies in the biotechnology and pharmaceutical industry." Mr.
Blair added, "We are pleased to have entered into this licensing
agreement with MorphoSys."
For further information please contact: Dr. Claudia
Gutjahr-Löser, Head of Corporate Communications, Tel: +49 (0) 89 /
899 27-122, gutjahr-loeser@morphosys.com or Mario Brkulj, Manager
Public Relations, Tel: +49 (0) 89 / 899 27-454, brkulj@morphosys.com
About MorphoSys:
MorphoSys is a publicly traded biotechnology company focused on the
generation of fully human antibodies as a means to discover and
develop innovative antibody-based drugs against life-threatening
diseases. MorphoSys's goal is to establish HuCAL as the technology of
choice for antibody generation in research, diagnostics and
therapeutic applications. The Company currently has therapeutic and
research alliances with the majority of the world's largest
pharmaceutical companies including Bayer-Schering, Boehringer
Ingelheim, Centocor/Johnson & Johnson, Novartis, Pfizer and Roche.
Within these partnerships, more than 40 therapeutic antibody programs
are ongoing in which MorphoSys participates through exclusive license
and milestones payments as well as royalties on any end products.
Additionally, MorphoSys is active in the antibody research market
through its AbD Serotec business unit. The business unit has
operations in Germany (Munich), the U.S. (Raleigh, NC) and U.K.
(Oxford). For further information please visit
http://www.morphosys.com/
HuCAL® and HuCAL GOLD® are registered trademarks of MorphoSys AG
MorphoSys Disclaimer:
This communication contains certain forward-looking statements
concerning the MorphoSys group of companies. The forward-looking
statements contained herein represent the judgment of MorphoSys as of
the date of this release and involve risks and uncertainties. Should
actual conditions differ from the Company's assumptions, actual
results and actions may differ from those anticipated. MorphoSys does
not intend to update any of these forward-looking statements as far
as the wording of the relevant press release is concerned.
About Dyax:
Dyax is focused on advancing novel biotherapeutics for unmet medical
needs, with an emphasis on oncology and inflammatory indications.
Dyax utilizes its proprietary drug discovery technology to identify
antibody, small protein and peptide compounds for clinical
development. Dyax's lead product candidate is DX-88, a recombinant
small protein that is currently in clinical trials for its
therapeutic potential in two separate indications. Dyax has completed
three Phase 2 trials and a Phase 3 trial of DX-88 for the treatment
of hereditary angioedema (HAE). A second Phase 3 trial, known as
EDEMA4, is currently being conducted under a Special Protocol
Assessment (SPA). DX-88 has orphan drug designation in the U.S. and
E.U., as well as Fast Track designation in the U.S. for the treatment
of acute attacks of HAE. Additionally, Dyax has completed a Phase 1/2
trial of DX-88 for the prevention of blood loss during on-pump
coronary artery bypass graft (CABG) procedures. A Phase 2 trial for
further development of DX-88 in on-pump cardiothoracic surgery (CTS),
including CABG and heart valve replacement or repair procedures, is
ongoing. Dyax identified DX-88 and other compounds in its pipeline
using its patented phage display technology, which rapidly selects
compounds that bind with high affinity and specificity to therapeutic
targets. Dyax leverages this technology broadly with over 70 revenue
generating licenses and collaborations for therapeutic discovery, as
well as in non-core areas such as affinity separations, diagnostic
imaging, and research reagents. Under a 2006 funding arrangement with
Paul Royalty Fund II, Dyax received a $30 million upfront cash
payment in exchange for granting Paul Royalty the right to receive a
specified percentage of the net royalties, including all milestones
fees and other payments, receivable by Dyax under the LFRP through
2017. Dyax is headquartered in Cambridge, Massachusetts, and has
antibody discovery facilities in Liege, Belgium. For online
information about Dyax Corp., please visit www.dyax.com.
Dyax Disclaimer:
This press release contains forward-looking statements, including
statements regarding the expected benefits of Dyax's license to
MorphoSys. Statements that are not historical facts are based on
Dyax's current expectations, beliefs, assumptions, estimates,
forecasts and projections about the industry and markets in which
Dyax competes. The statements contained in this release are not
guarantees of future performance and involve certain risks,
uncertainties and assumptions, which are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expressed in such forward-looking statements. Important
factors which may affect the expected benefits of Dyax's license to
MorphoSys include the risks that: Dyax's future benefits from its
non-exclusive licensing program depend on the efforts and priorities
of its licensees, which may be subject to changes in the licensee's
business direction or priorities; others may develop technologies or
products superior to Dyax's phage display technologies; Dyax may not
be able to obtain and maintain intellectual property protection for
its products and technologies; and other risk factors described or
referred to in Dyax's most recent Annual Report on Form 10-K and
other periodic reports filed with the Securities and Exchange
Commission. Dyax cautions investors not to place undue reliance on
the forward-looking statements contained in this release.
These statements speak only as of the date of this release, and Dyax
undertakes no obligations to update or revise these statements,
except as may be required by law. Dyax specifically disclaims
responsibility for information describing MorphoSys and its business
other than the license with Dyax.
Dyax, the Dyax logo and EDEMA4 are registered trademarks of Dyax
Corp.
