Dyax Corp. Announces Expansion of Executive Roles
-All Corporate Functions Consolidated Under Three Executive Vice
Presidents to Meet Evolving Business Needs-
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Dyax Corp. (NASDAQ:DYAX), a developer of novel biotherapeutics for unmet
medical needs, today announced an expansion of roles for the Company's
Executive Vice Presidents aimed at meeting the Company's evolving
business needs and strategic initiatives. Under the new reporting
structure, all corporate functions will report to these executives, who
will, in turn, continue to report to Gustav Christensen, President and
Chief Executive Officer of Dyax. The executives and their
Ivana Magovčević-Liebisch, PhD, JD, who has been with Dyax since 2001,
has been named Executive Vice President, Chief Business Officer and
General Counsel. In this role, she will now oversee all aspects of
Dyax's Commercial Operations and will continue to manage Business
Development, Alliance Management and Legal Affairs.
George Migausky, Dyax's Executive Vice President and Chief Financial
Officer since 2008, will add Corporate Communications, Investor
Relations and Corporate Compliance to his oversight of Accounting,
Finance, Information Technology and Human Resources.
William Pullman, BMedSc, MB, BS, PhD, FRACP, who has been at Dyax
since 2007 and was named Executive Vice President, Chief Research and
Development Officer in 2010, will continue to oversee all aspects of
Research, Clinical Development, Regulatory Affairs, Medical Affairs
and Technical Operations.
"It is with great pleasure and confidence that we expand the roles of
these valuable members of the Dyax team," said Mr. Christensen. "With
all functions reporting to the executive vice presidents, including the
shift of commercial responsibilities from me to Ivana in her much
deserved and expanded role as Chief Business Officer, Dyax is now
positioned to more efficiently manage day-to-day operations while
advancing its longer-term mission of driving medical innovation and
delivering outstanding value to patients and stockholders."
Dyax is a fully integrated biopharmaceutical company focused on
discovering, developing and commercializing novel biotherapeutics for
unmet medical needs. The Company's lead product, ecallantide, has been
approved under the brand name KALBITOR® in the United States
for the treatment of acute attacks of hereditary angioedema (HAE) in
patients 16 years of age and older.
Dyax is commercializing KALBITOR in the United States independently, and
establishing strategic partnerships to develop and commercialize
ecallantide for the treatment of HAE in key regions worldwide.
Currently, Dyax has partnership agreements for regions including Europe,
Japan, Russia, the Middle East, Israel, North Africa, Australia, New
Zealand, Latin America, excluding Mexico, and in the Caribbean, Taiwan,
Singapore and South Korea. The company is also exploring other potential
indications for ecallantide, either alone or through partnerships,
including drug-induced angioedema and retinal vein occlusion-induced
Ecallantide and other compounds in Dyax's pipeline were identified 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 through the Licensing and Funded
Research Program (LFRP), which has approximately 75 revenue generating
licenses and collaborations for therapeutic discovery, as well as for
affinity separations, diagnostic imaging, and research reagents. The
success of the Company's LFRP royalty portfolio is illustrated by the
program's advanced licensee pipeline that includes 17 candidates in
clinical development. Of those candidates, four are in Phase 3 clinical
trials, four are in Phase 2 and nine are in Phase 1.
This press release contains forward-looking statements, including
statements regarding the prospects for therapeutic benefits of KALBITOR
for HAE. Statements that are not historical facts are based on Dyax's
current expectations, beliefs, assumptions, estimates, forecasts and
projections about the industry and markets in which Dyax competes. The
statements contained in this release are not guarantees of future
performance and involve certain risks, uncertainties and assumptions,
which are difficult to predict. Therefore, actual outcomes and results
may differ materially from what is expressed in such forward-looking
statements. Important factors which may affect the prospects for
therapeutic benefits of KALBITOR for HAE include the risks that: others
may develop technologies or products superior to KALBITOR or that are on
the market before KALBITOR; KALBITOR may not gain market acceptance;
Dyax is dependent on the expertise, effort, priorities and contractual
obligations of third parties in the manufacture, marketing, sales and
distribution of KALBITOR; and other risk factors described or referred
to Item 1A, "Risk Factors" in Dyax's most recent Annual Report on Form
10-K and other periodic reports filed with the Securities and Exchange
Commission. Dyax cautions investors not to place undue reliance on the
forward-looking statements contained in this release. These statements
speak only as of the date of this release, and Dyax undertakes no
obligations to update or revise these statements, except as may be
required by law.
Dyax, the Dyax logo and KALBITOR are registered trademarks of Dyax Corp.
Nicole Jones, 617-250-5744
Source: Dyax Corp.
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