Dyax in $12M Royalty Deal

Xconomy Boston — 

Dyax (NASDAQ:DYAX), a Cambridge, MA-based biotech company, reports today that it has sold its rights to royalties and fees from sales of a hemophilia treatment it discovered to Paul Capital Healthcare for up to $12 million. The deal includes a $10 million upfront payment and up to $2 million in milestone payments tied to  sales of the hemophilia treatment in 2010 and 2011. Drug giant Pfizer (NYSE:PFE) is commercializing the product, a recombinant Factor VIII therapy, which Dyax discovered with its patented phage display technology.