Dyax receives $1.5 million payment
CAMBRIDGE, Mass. — Biotechnology company Dyax Corp. said Wednesday it received a $1.5 million payment as Eli Lilly & Co. moved a potential leukemia treatment into early-stage clinical trials.
The payment, which comes from Eli Lilly unit ImClone Systems, comes as the company begins human studies on IMC-EB10.
Also, Dyax said it will receive an undisclosed payment from partner AstraZeneca as that company moves a potential cancer drug into early-stage studies.
Dyax reported $43.4 million in revenue in 2008.
Shares of Dyax rose 6 cents to $3.65 in afternoon trading.