Dyax Announces the Resignation of Thomas Beck, M.D., President and Chief Operating OfficerCAMBRIDGE, Mass.--(BUSINESS WIRE)--May 4, 2007 - Dyax Corp. (Nasdaq: DYAX) announced today the resignation of Thomas Beck, M.D., as the Company's President and Chief Operating Officer. Dr. Beck will remain with the Company in a consulting capacity.
"Tom Beck has played a significant role in building a strong clinical development organization as Dyax moves towards market approval for its lead product candidate. He has helped with the advancement of DX-88 in hereditary angioedema as well as in the positioning of DX-88 for development in the broader cardiothoracic surgery market," stated Henry Blair, Chairman and Chief Executive Officer of Dyax. "We are thankful for Tom's contributions and appreciate his willingness to continue to assist us during a transition period."
Dyax is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis on oncology and inflammatory indications. Dyax utilizes its proprietary drug discovery technology to identify antibody, small protein and peptide compounds for clinical development.
Dyax's lead product candidate is DX-88, a recombinant small protein that is currently in clinical trials for its therapeutic potential in two separate indications. Dyax has successfully completed three Phase 2 trials and a Phase 3 trial of DX-88 for the treatment of hereditary angioedema (HAE). Dyax initiated its second Phase 3 trial, known as EDEMA4, in April 2007. DX-88 has orphan drug designation in the U.S. and E.U., as well as Fast Track designation in the U.S. for the treatment of acute attacks of HAE.
Additionally, Dyax has successfully completed a Phase 1/2 trial of DX-88 for the prevention of blood loss during on-pump coronary artery bypass graft (CABG) procedures. Dyax is initiating a Phase 2 trial for further development of DX-88 in on-pump cardiothoracic surgery (CTS), including CABG and heart valve replacement or repair procedures.
Dyax identified DX-88 and other compounds in its pipeline using its patented phage display technology, which rapidly selects compounds that bind with high affinity and specificity to therapeutic targets. Dyax leverages this technology broadly with over 70 revenue generating licenses and collaborations for therapeutic discovery, as well as in non-core areas such as affinity separations, diagnostic imaging, and research reagents.
Dyax is headquartered in Cambridge, Massachusetts, and has antibody discovery facilities in Liege, Belgium. For online information about Dyax Corp., please visit www.dyax.com.
Dyax and the Dyax logo are the registered trademarks of Dyax Corp.
Ivana MagovÄ?eviÄ?-Liebisch, 617-250-5759
General Counsel and Executive Vice President
Nicole P. Jones, 617-250-5744
Associate Director, Investor Relations and
Posted: May 2007