Dyax licenses HAE drug Kalbitor rights to Sigma-Tau for a potential $105 million

USA-based Dyax Corp has entered a strategic partnership with Defiante Farmaceutica, as subsidiary of Italian drugmaker Sigma-Tau, to develop and commercialize subcutaneous DX-88 (ecallantide) for the treatment of hereditary angioedema (HAE) and other therapeutic indications throughout Europe, North Africa, Middle East and Russia.

However, Dyax retains its rights to subcutaneous DX-88 in other territories, including the USA, where DX-88 has been approved by the Food and Drug Administration and is marketed as Kalbitor (ecallantide) for the treatment of acute attacks of HAE in patients 16 years of age and older.

Under the terms of the deal, Sigma Tau will pay $2.5 million upfront to Dyax and will purchase $2.5 million in equity shares at a 50% premium above market value. Dyax will also be eligible to receive over $100 million in development and sales milestones related to DX-88 and royalties equal to 41% of net sales of product. Sigma-Tau will pay the costs associated with regulatory approval and commercialization in the territories licensed to Sigma Tau. Additionally, Dyax and Sigma-Tau will share equally the costs for all development activities for future indications developed in partnership with Sigma-Tau.