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Dyax Corp. Expands Patent Protection for DX-88 in On-Pump Cardiothoracic Surgery (CTS)
Thursday, July 19, 2007
Cambridge, MA -- Dyax Corp. (Nasdaq: DYAX) announced today the issuance of a U.S. patent for its lead product candidate DX-88, a non-naturally occurring kallikrein inhibitor, and its uses. U.S. Patent No. 7,235,530 (issued June 26, 2007), relates to the company’s DX-88 program in on-pump cardiothoracic surgery (CTS), and provides Dyax with patent claims for the use of DX-88 in combination with anti-thrombolytic agents for preventing or reducing blood loss in patients undergoing invasive surgical procedures, especially procedures requiring cardiopulmonary bypass. Dyax now has eight issued U.S. patents covering DX-88 as well as other related kallikrein inhibitors, and their uses. The company is currently conducting a Phase 2 trial for DX-88 in on-pump CTS.
"The issuance of this patent reinforces the company’s patent portfolio in relation to the DX-88 franchise," said Ivana Magovcevic-Liebisch, Dyax’s General Counsel and Executive Vice President of Administration. "Furthermore, it highlights our commitment and strategy to strengthen our intellectual property base and to protect broadly Dyax’s internal development programs."
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) from the FDA. 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.
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.
This press release contains forward-looking statements, including statements regarding the extent of Dyax’s patent portfolio, clinical trials, and plans for the development of DX-88 for HAE and CTS. 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 extent of Dyax’s patent portfolio and its potential for the identification of novel compounds include the risks that: Dyax may not be able to obtain and maintain intellectual property protection for its phage display technology; others may develop technologies superior to Dyax’s phage display technology; and Dyax is subject to 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.
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