Dyax receives $1.5 million payment as partner Eli Lilly’s ImClone moves drug into development

August 26th, 2009

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.

Filed under Cancer, News

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