BURLINGTON, Mass.--(BUSINESS WIRE)--Dyax Corp. (NASDAQ:DYAX) announced today the cancellation of its previously scheduled Research and Development (R&D) Day, which was set to take place on Monday, November 2, 2015, in New York City.
In a news release issued separately today, Dyax announced that it has entered into a definitive merger agreement with Shire plc (LSE: SHP, NASDAQ: SHPG), under which Shire will acquire all outstanding shares of Dyax. The Company is cancelling R&D Day and its review of third quarter 2015 financial results in light of the announced agreement with Shire.
The two companies will host a conference call to discuss the transaction, today, November 2, 2015 at 8:00 a.m. ET. In the U.S., the conference call can be accessed by dialing 1 866 928 7517 or 1 718 873 9077 and entering passcode 21370034#. In the U.K., the conference call can be accessed by dialing 0808 237 0030 or 020 3139 4830 and entering passcode 21370034#.The news release and associated materials can be found on the Investor Relations section of the Company's website at http://investor.dyax.com.
Dyax is a biopharmaceutical company focused on the development and commercialization of novel biotherapeutics for unmet medical needs. The Company is developing DX-2930, an investigational fully human monoclonal antibody, for the prevention of HAE attacks. Dyax plans to initiate a single, pivotal Phase 3 clinical trial evaluating DX-2930 in HAE by year-end 2015. Additionally, Dyax markets KALBITOR® (ecallantide) for the treatment of acute attacks of HAE in patients 12 years of age and older.
Both DX-2930 and KALBITOR were identified using Dyax's proprietary phage display technology. Dyax has broadly licensed this technology under its Licensing and Funded Research Portfolio (LFRP). The current portfolio includes one FDA approved product, Eli Lilly and Company’s CYRAMZA® (ramucirumab), for which Dyax receives royalties, and multiple product candidates in various stages of clinical development for which the Company is eligible to receive future milestones and royalties.
For additional information about Dyax, please visit www.dyax.com.
For additional information about KALBITOR, including full prescribing information, please visit www.KALBITOR.com.
This press release contains forward-looking statements. Statements that are not historical facts are based on Dyax's current expectations, beliefs, assumptions, estimates, forecasts and projections about the industry and markets in which Dyax operates. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements because of risks, uncertainties and assumptions involved in any future projections. There are many factors that could cause actual results to differ from these forward-looking statements, including: risks and uncertainties relating to the clinical development, regulatory approval and commercial manufacturing of DX-2930 and other product candidates; Dyax's dependence on the expertise, effort, priorities and contractual obligations of third parties in the development of DX-2930 and other product candidates and in the marketing, sales and distribution of KALBITOR; competition from new and existing treatments for HAE; the uncertainty of patent and intellectual property protection relating to DX-2930 and other product candidates, KALBITOR and the LFRP; Dyax's dependence on licensees and collaborators for development, clinical trials, manufacturing, sales and distribution of product candidates in the LFRP; uncertainties as to whether one or more product candidates in the LFRP will progress in clinical development, receive commercial approval, and generate royalties; milestone payments under our LFRP may be delayed, withheld, or challenged by our licensees; and other risk factors described or referred to in Item 1A, "Risk Factors" in Dyax's most recent Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. Dyax cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Dyax undertakes no obligations to update or revise these statements, except as may be required by law.
Dyax, the Dyax logo and KALBITOR are registered trademarks of Dyax Corp.
CYRAMZA is a trademark owned by or licensed to Eli Lilly and Company, its subsidiaries, or affiliates.