Cambridge, MA-based biotech Dyax (NASDAQ: [[ticker:DYAX]]) announced it has inked a deal with Japanese contract research organization CMIC to develop and commercialize its drug DX-88 (ecallantide), a treatment for the inflammatory disease hereditary angioedema, in Japan. CMIC will pay Dyax $4 million upfront and $102 million in development and sales milestones for the FDA-approved treatment, marketed as Kalbitor, and is responsible for all costs surrounding development, regulatory activities, and commercialization of the drug for angioedema conditions in Japan. In turn, CMIC could receive royalties ranging from 20 percent to 24 percent of the net sales of DX-88.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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