BioCentury
ARTICLE | Company News

Dyax, Shire deal

November 9, 2015 8:00 AM UTC

Shire will acquire Dyax for $37.30 per share, or $5.9 billion in cash. The price represents a 35% premium to Dyax’s close of $27.53 on Oct. 30, the last trading day before the deal was announced. Dyax shareholders also are eligible for a contingent value right (CVR) worth $4 per share, or $646 million, if FDA approves lead candidate DX-2930 by year end 2019 to prevent Type I and II hereditary angioedema (HAE).

By year end, the parties expect to begin a Phase III trial of DX-2930 as a prophylaxis for HAE. Shire hopes to launch DX-2930 in 2018. Shire also gains Dyax’s marketed acute HAE treatment Kalbitor ecallantide, which generated $17.8 million in net sales in 3Q15, and a pipeline of preclinical programs, including DX-2930 for diabetic macular edema (DME), DX-2507 for autoimmune diseases and DX-4012 for thrombosis. ...