Dyax expands partnership with Italian drugmaker
Dyax Corp. has expanded its partnership with an Italian drugmaker to develop a drug used to treat a hereditary disease that can cause dangerous swelling in the throat.
The Defiante Farmaceutica unit of Italy's Sigma-Tau will handle development and sales of Kalbitor in Taiwan, Singapore, South Korea, and in Latin American countries excluding Mexico, the company said Tuesday.
Defiante will pay Dyax $7 million upfront, and the deal could lead as much as $10 million in milestone and reimbursement payments as well. Dyax, based in Cambridge, will also receive milestones and royalties of 41 percent on sales of the drug if it is approved in those markets. Sigma-Tau will handle all regulatory and sales costs.
Defiante already has the rights to develop and market Kalbitor in Europe, North Africa, Middle East, Russia, Australia, and New Zealand. Dyax has rights in the U.S. and other territories.
Kalbitor, or ecallantide, is approved to treat acute attacks of hereditary angioedema in patients at least 16 years old. Hereditary angioedema is a genetic condition that can cause dangerous swelling in the throat and larynx. Dyax said the condition affects between one in 10,000 and one in 50,000 people.
Company shares rose 2 percent, or 5 cents, to $2.34 in premarket trading Tuesday.