DYAX » Topics » LFRP Strategy

These excerpts taken from the DYAX 10-K filed Mar 4, 2009.

LFRP Strategy

        Recently, many large pharmaceutical companies have taken steps to acquire or exclusively license drug discovery technologies. As a result, discovery technologies with proven success such as phage display are becoming less accessible within the industry. We believe that this trend provides Dyax a more favorable position from which to leverage our technology and structure potential LFRP opportunities with greater strategic benefit. In evaluating future opportunities, we will consider the following criteria:

    the level of technical and commercial resources that potential collaborators would commit to our programs;

    the amount of up-front payments we would receive, as well as milestone and royalty payments; and

    our ability to retain certain rights, including, for example, co-development and co-promotion rights that we feel increase the overall potential value of the collaboration.

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Table of Contents

LFRP Strategy



        Recently, many large pharmaceutical companies have taken steps to acquire or exclusively license drug discovery technologies. As a
result, discovery technologies with proven success such as phage display are becoming less accessible within the industry. We believe that this trend provides Dyax a more favorable position from which
to leverage our technology and
structure potential LFRP opportunities with greater strategic benefit. In evaluating future opportunities, we will consider the following criteria:





    the level of technical and commercial resources that potential collaborators would commit to our programs;


    the amount of up-front payments we would receive, as well as milestone and royalty payments; and


    our ability to retain certain rights, including, for example, co-development and co-promotion
    rights that we feel increase the overall potential value of the collaboration.


8









HREF="#bg12501a_main_toc">Table of Contents









LFRP Strategy



        Recently, many large pharmaceutical companies have taken steps to acquire or exclusively license drug discovery technologies. As a
result, discovery technologies with proven success such as phage display are becoming less accessible within the industry. We believe that this trend provides Dyax a more favorable position from which
to leverage our technology and
structure potential LFRP opportunities with greater strategic benefit. In evaluating future opportunities, we will consider the following criteria:





    the level of technical and commercial resources that potential collaborators would commit to our programs;


    the amount of up-front payments we would receive, as well as milestone and royalty payments; and


    our ability to retain certain rights, including, for example, co-development and co-promotion
    rights that we feel increase the overall potential value of the collaboration.


8









HREF="#bg12501a_main_toc">Table of Contents









These excerpts taken from the DYAX 10-K filed Feb 29, 2008.

LFRP Strategy

        Recently, many large pharmaceutical companies have taken steps to acquire or exclusively license drug discovery technologies. As a result, discovery technologies with proven success such as phage display are becoming less available within the industry. We believe that this trend provides Dyax with leverage to evaluate and structure potential LFRP opportunities with greater strategic benefit. In evaluating future opportunities, we will consider the following criteria:

    the level of technical and commercial resources that potential collaborators would commit to our programs;

    the amount of up-front payments we would receive, as well as milestone and royalty payments; and

    our ability to retain certain rights, including, for example, co-development and co-promotion rights that we feel increase the overall potential value of the collaboration.

        Our recently executed library license agreement with sanofi-aventis, which we announced in February 2008, reflects this strategy and the increasing value of our phage display technology. Under this agreement, in addition to significant license fees, milestone payments and royalties, we also retained rights to co-develop certain drug candidates discovered by sanofi-aventis using phage display.

7


        Going forward, we expect to enter into licenses and collaborations that are designed to maximize the strategic value of our proprietary phage display technology.

LFRP Strategy



        Recently, many large pharmaceutical companies have taken steps to acquire or exclusively license drug discovery technologies. As a result, discovery technologies
with proven success such as phage display are becoming less available within the industry. We believe that this trend provides Dyax with leverage to evaluate and structure potential LFRP opportunities
with greater strategic benefit. In evaluating future opportunities, we will consider the following criteria:





    the
    level of technical and commercial resources that potential collaborators would commit to our programs;


    the
    amount of up-front payments we would receive, as well as milestone and royalty payments; and


    our
    ability to retain certain rights, including, for example, co-development and co-promotion rights that we feel increase the overall potential
    value of the collaboration.



        Our
recently executed library license agreement with sanofi-aventis, which we announced in February 2008, reflects this strategy and the increasing value of our phage display technology.
Under this agreement, in addition to significant license fees, milestone payments and royalties, we also retained rights to co-develop certain drug candidates discovered by sanofi-aventis
using phage display.



7









        Going
forward, we expect to enter into licenses and collaborations that are designed to maximize the strategic value of our proprietary phage display technology.



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