SAN FRANCISCO (Thomson Financial) - Dyax Corp. said Thursday that Wyeth Pharmaceuticals, a division of Madison, NJ-based Wyeth, received marketing approval from the Food and Drug Administration for Xyntha, a treatment for hemophilia A.
The peptide ligand, used in the purification process during the manufacture of Xyntha, was discovered utilizing Dyax's proprietary phage display library and is part of the company's licensing and funded research program, the company noted.
Under the terms of the license agreement with Wyeth, Dyax is entitled to a milestone payment triggered by the first commercial sale of Xyntha, followed by royalties based on certain pre-determined sales levels.
Shares of Cambridge, Mass.-based Dyax were up 3 cents at $4.17. Wyeth's stock was down 57 cents, or about 1.3%, at $42.29. Katherine Hunt kh/vj COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
The peptide ligand, used in the purification process during the manufacture of Xyntha, was discovered utilizing Dyax's proprietary phage display library and is part of the company's licensing and funded research program, the company noted.
Under the terms of the license agreement with Wyeth, Dyax is entitled to a milestone payment triggered by the first commercial sale of Xyntha, followed by royalties based on certain pre-determined sales levels.
Shares of Cambridge, Mass.-based Dyax were up 3 cents at $4.17. Wyeth's stock was down 57 cents, or about 1.3%, at $42.29. Katherine Hunt kh/vj COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.