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Paul Royalty buys Dyax's phage rights for $30mm

Executive Summary

Dyax (therapeutic candidates for cancer and inflammation) has raised $30mm with the sale to Paul Capital Partners' Paul Royalty Fund of a tiered percentage of its revenues from its phage display licensing and funded research program (PDLFRP, which has already granted over 75 licenses) over the next 10 years. Dyax may also get an additional $5mm if the PDLFRP reaches certain predetermined revenue levels in the next 24 months. Dyax reserves the right to repurchase the rights at any time. The company will use the funds to continue the development of its hereditary angioedema and CABG programs and further the other drug candidates in its pipeline.
Deal Industry
  • In Vitro Diagnostics
  • Pharmaceuticals
  • Biotechnology
    • Large Molecule
      • Antibodies
    • Drug Discovery Tools
      • Molecular Diversity
Deal Status
  • Final
Deal Type
  • Financing
    • Royalty Sale

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