|[March 31, 2012]
GE Healthcare and Dyax Announce Licensing Agreement for c-Met Imaging Peptides for Use in Colorectal, Lung and Liver Cancer Research
CHALFONT ST GILES, England & BURLINGTON, Mass. --(Business Wire)--
GE Healthcare, a unit of GE (NYSE:GE), and Dyax Corp. (NASDAQ:DYAX)
today announced a licensing agreement for the development and
commercialization of peptides binding to c-Met, which provides upfront,
milestone, and royalty payments to Dyax. Research of potential
diagnostic applications and use as a patient selection biomarker in
oncology will be explored by GE Healthcare in collaboration with
academic institutions and pharmaceutical companies. The license includes
application of the peptides in positron emission tomography (PET),
single proton emission computed tomography (SPECT), and optical imaging.
"Growth factor receptors such as c-Met are promising therapeutic targets
that could be a critical factor in the development of colorectal, lung
and liver oncology drugs," said Marivi Mendizabal, Head of Research, GE
Healthcare Medical Diagnostics. "As in vivo imaging technologies
become increasingly important in oncology drug development, our vision
is that we will be able to rapidly develop new targeted molecular
diagnostics - not just for our own clinical portfolio, but as
'companion' diagnostic offerings for our strategic biopharmaceutical
Initial preclinical data on c-Met imaging will be presented by GE
Healthcare at the American Academy of Cancer Research meeting March 31 -
April 4 in Chicago, IL.
"This agreement validates the strength of Dyax's core phage display
library technology to support GE Healthcare's work to aid the
development of cutting-edge treatment options for patients," said Gustav
Christensen, President and Chief Executive Officer at Dyax Corp. "With
18 Dyax-derived antibody or peptide programs currently in human clinical
trials, we continue to demonstrate the utility of Dyax's proven and
highly successful engine to power both therapeutic and diagnostic
About GE Healthcare
GE Healthcare provides transformational medical technologies and
services that are shaping a new age of patient care. Our broad expetise
in medical imaging and information technologies, medical diagnostics,
patient monitoring systems, drug discovery, biopharmaceutical
manufacturing technologies, performance improvement and performance
solutions services help our customers to deliver better care to more
people around the world at a lower cost. In addition, we partner with
healthcare leaders, striving to leverage the global policy change
necessary to implement a successful shift to sustainable healthcare
Our "healthymagination" vision for the future invites the world to join
us on our journey as we continuously develop innovations focused on
reducing costs, increasing access, and improving quality around the
world. Headquartered in the United Kingdom, GE Healthcare is a unit of
General Electric Company (NYSE: GE). Worldwide, GE Healthcare employees
are committed to serving healthcare professionals and their patients in
more than 100 countries. For more information about GE Healthcare, visit
our web site at www.gehealthcare.com.
For our latest news, please visit http://newsroom.gehealthcare.com
Dyax is a fully integrated biopharmaceutical company focused on the
development and commercialization of novel biotherapeutics for unmet
medical needs. Dyax's lead product, ecallantide, has been approved under
the brand name KALBITOR® in the United States for the
treatment of acute attacks of hereditary angioedema (HAE) in patients 16
years of age and older.
Dyax is commercializing KALBITOR in the United States independently, and
establishing strategic collaborations to develop and commercialize
ecallantide for the treatment of HAE in key regions worldwide.
Currently, Dyax has agreements for regions including Europe, Japan,
Russia, the Middle East, Israel, North Africa, Australia, New Zealand,
Latin America (excluding Mexico), and the Caribbean. Dyax is also
exploring other potential indications for ecallantide, either alone or
through collaborations, including drug-induced angioedema.
Ecallantide and other compounds in Dyax's pipeline were identified using
its patented phage display technology, which rapidly selects compounds
that bind with high affinity and specificity to therapeutic targets.
Dyax leverages this technology broadly through the Licensing and Funded
Research Program (LFRP), which has over 70 revenue generating licenses
and collaborations for therapeutic discovery, as well as for affinity
separations, diagnostic imaging, and research reagents. The success of
the Company's LFRP portfolio is illustrated by the program's advanced
licensee pipeline that includes 18 candidates in clinical development.
Of those candidates, four are in Phase 3 clinical trials, four are in
Phase 2 and ten are in Phase 1.
Dyax is headquartered in Burlington, Massachusetts. For online
information about Dyax Corp., please visit www.dyax.com.
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