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Dyax, Fovea enter exclusive license agreement to commercialize compound with ophthalmic indications
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CAMBRIDGE, Mass. and PARIS — Dyax Corp. and Fovea Pharmaceuticals have entered into an exclusive license agreement to develop and commercialize an ocular formulation of Dyax's lead product candidate, a recombinant small protein for treating retinal diseases, the companies announced in a joint press release.
The compound, called DX-88 Dyax (ecallantide), is a potent plasma kallikrein inhibitor that could potentially reduce macular edema, the release said.
Under the terms of the agreement, Fovea will hold exclusive rights to market DX-88 for ophthalmic indications in the European Union, and Dyax will retain ophthalmic marketing rights in all other territories worldwide.
Specifically, Fovea will fund the development of DX-88 to seek the approval in worldwide markets for treating macular edema secondary to retinal vein occlusion. For all other ophthalmic uses, Fovea will develop DX-88 to meet regulatory requirements in Europe, and Dyax will be responsible for any additional requirements needed to obtain approval in territories elsewhere.
Financial provisions of the agreement call for each company to pay the other a tiered royalty on net sales of DX-88 in their respective territories.