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Dyax Licenses Antibodies to Sanofi
Tuesday February 12, 7:40 am ET
Dyax Licenses Development, Sales Rights for Antibody Drug Candidates to Sanofi-Aventis


CAMBRIDGE, Mass. (AP) -- Pharmaceutical company Sanofi-Aventis SA has bought the worldwide development and sales rights to Dyax Corp.'s antibody drug candidates, Dyax said Tuesday.
The deal is worth up to $500 million to Dyax based on development and sales milestones. Dyax will receive $25 million in 2008 and retain profit-sharing rights.

The main antibody in the deal is DX-2240, which has therapeutic potential in numerous cancers, Dyax said.