Dyax Corp. (DYAX) Signs Strategic Licensing Agreement with Kadmon for DX-2400 Novel MMP-14 Inhibitor
Dyax and Kadmon Corporation LLC yesterday announced they have entered into a strategic licensing agreement granting Kadmon an exclusive worldwide license for developing and commercializing the fully human monoclonal antibody DX-2400, which is a potent and selective antibody inhibitor of matrix metalloproteinase 14 (MMP-14). A key enzyme in a molecular pathway, MMP-14 is thought to play a role in tumor blood vessel formation (angiogenesis), as well as in affecting tumor growth and cell migration. According to the terms of the agreement, Dyax will be given an upfront payment and is eligible for significant development and commercial milestone payments, as well…