Dyax, Fovea enter into license agreement

March 1, 2009

Dyax Corp. and Fovea Pharmaceuticals have entered into an exclusive license agreement for the development and commercialization of an ocular formulation of DX-88 for the treatment of retinal diseases, the companies announced in a joint statement.

Key Points

Cambridge, MA, and Paris-Dyax Corp. and Fovea Pharmaceuticals have entered into an exclusive license agreement for the development and commercialization of an ocular formulation of DX-88 for the treatment of retinal diseases, the companies announced in a joint statement.

"As a potent plasma kallikrein inhibitor, DX-88 has the potential to be a breakthrough therapy in reducing macular edema, a leading cause of visual loss in multiple ophthalmic diseases," said Bernard Gilly, president and chief executive officer (CEO) of Fovea.

According to the statement, the license grants Fovea exclusive marketing rights for DX-88 in ophthalmic indications in the European Union (EU), whereas Dyax retains marketing rights for these indications for all territories outside the EU.

"This agreement, our third for DX-88 in less than a year, highlights the significant value and broad therapeutic potential of this important and versatile product," said Gustav A. Christensen, president and CEO of Dyax.

Both companies said that they are looking forward to the collaboration to expand and develop the drug's therapeutic application.

Related Content:

News