Defiante, Dyax expand KALBITOR partnership to treat hereditary angioedema

Dyax Corp. (NASDAQ: DYAX) and Defiante Farmaceutica S.A., an affiliate of the pharmaceutical group Sigma-Tau (Sigma-Tau), announced today an expansion of their strategic partnership for KALBITOR^® (ecallantide) in the treatment of hereditary angioedema (HAE) and other therapeutic indications to include development and commercialization rights in Latin America, excluding Mexico and the Caribbean, Taiwan, Singapore and South Korea. Under their existing agreement, Defiante holds these rights in Europe, North Africa, the Middle East, Russia, Australia and New Zealand, with Dyax retaining rights to KALBITOR in other territories, including the U.S., where it is approved for the treatment of acute attacks of HAE in patients 16 years of age and older.

Dyax will receive an upfront payment of $7 million and is eligible to receive up to $10 million in regulatory, approval and reimbursement milestones. Consistent with their existing agreement, Dyax is also eligible to receive sales milestones and royalties equal to 41% of net sales of KALBITOR, less cost of goods sold. Sigma-Tau is also responsible for costs associated with regulatory approval and commercialization in their additional territories.

"The addition of these new territories to our strategic agreement with Sigma-Tau is another important step in our ongoing KALBITOR strategy," stated Gustav Christensen, President and Chief Executive Officer of Dyax Corp. "We will work with our partner to maximize the global reach and commercial potential of KALBITOR and position it to be the HAE treatment of choice internationally."

"The expansion of our agreement with Dyax speaks to the success of this partnership, our continued dedication to KALBITOR and our ongoing mission to provide treatment options to patients with rare diseases," said Mr. Ugo Di Francesco, Sigma-Tau Group Executive Vice President and Chief Executive Officer. "The addition of these territories to our agreement enhances our global offerings in the specialty pharmaceutical business and gives us the opportunity to provide an important new treatment option to HAE patients in Latin America and Southeast Asia."

Source: Dyax Corp.