DYAX CORP. AND DEBIOPHARM S.A. RESTRUCTURE DEVELOPMENT AGREEMENT FOR DX-890 (DEPELESTAT)

Dyax Corp. (Nasdaq: DYAX) and Debiopharm S.A. today announced the restructuring of their long-standing development agreement for DX-890 (Depelestat), a recombinant inhibitor of human neutrophil elastase (hNE) discovered by Dyax and developed by Debiopharm, for the treatment of pulmonary disorders. Under the terms of the restructured agreement, Debiopharm will have exclusive worldwide rights for the development, manufacture and commercialization of a native form of DX-890 in cystic fibrosis (CF) and acute respiratory distress syndrome (ARDS).

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