Biotech firms Dyax (NASDAQ:[[ticker:DYAX]]) and Biogen Idec (NASDAQ:[[ticker:BIIB]]), both based in Cambridge, MA, have expanded a previous deal under which Dyax has discovered antibody drugs for Biogen with its phage display technology, according to a press release. The expanded deal guarantees Biogen 10 more product licenses, and, in return, Biogen will pay Dyax a $5 million payment upfront, fund research costs, and provide up to $85 million in milestone fees as well as royalties for each drug that Biogen commercializes as a result of the agreement.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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