DYAX IN LICENSING DEAL WITH MERCK KGAA

Dyax Corp., whose proprietary technology is used in drug discovery, on Thursday said it is licensing certain technologies and patent rights to Germany-based pharmaceutical firm Merck KGaA. Nasdaq-listed shares of Dyax, which have traded between $3.04 and $9.80 over 52 weeks, gained 22 cents, or 3.9 percent on the news, to $5.81 in midday trading. Specific financial terms of the deal were not disclosed. Under the terms of the agreement, Dyax will receive an upfront fee from Merck in exchange for a license to its antibody and peptide phage display technology, as well as sublicenses to related third-party patents that may be used with the technology.

MSN Money (http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20050818&ID=5050637)