-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, H4mL4rYChYf6TkR1UndLUwgBJT+a/M3tc+R7lNwTC74eOd01u6z+2HtcJYKsEDJZ jccsy7XrRVUOIYyBGdoCgA== 0001144204-10-021319.txt : 20100420 0001144204-10-021319.hdr.sgml : 20100420 20100420162657 ACCESSION NUMBER: 0001144204-10-021319 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100416 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20100420 DATE AS OF CHANGE: 20100420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DYAX CORP CENTRAL INDEX KEY: 0000907562 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 043053198 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24537 FILM NUMBER: 10759646 BUSINESS ADDRESS: STREET 1: ONE KENDALL SQ BLDG 600 5TH FL CITY: CAMBRIDGE STATE: MA ZIP: 02139 MAIL ADDRESS: STREET 1: ONE KENDALL SQ BLDG 600 STREET 2: 5TH FL CITY: CAMBRIDGE STATE: MA ZIP: 02139 FORMER COMPANY: FORMER CONFORMED NAME: BIOTAGE INC DATE OF NAME CHANGE: 19951117 8-K 1 v181668_8k.htm Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
WASHINGTON, D.C.  20549
 
FORM 8-K
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported): April 16, 2010
 
DYAX CORP.
(Exact Name of Registrant as Specified in Charter)
 
Delaware
000-24537
04-3053198
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
300 Technology Square
Cambridge, MA  02139
(Address of Principal Executive Offices)  (Zip Code)
 
(617) 225-2500
(Registrant's telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 1.01                      Entry into a Material Definitive Agreement.

On April 16, 2010, Dyax Corp. (the “Company”) entered into a Royalty Interest Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company sold its rights to royalties and other payments related to the commercialization of Xyntha®  by Wyeth (Pfizer, Inc.), a licensee under the Company’s phage display Licensing and Funded Research Program.  These rights were sold to KGH Domestic III, L.P., a royalty investment fund managed by Paul Capital.  Under the terms of this sale, the Company received an upfront cash payment of $10 million and will be eligible to receive milestone payments totaling up to $2 million based on Xyntha sales in 2010 and 2011.
 
Pursuant to the terms of the Company’s existing loan agreement with Cowen Healthcare Royalty Partners, L.P. (“CHRP”), a portion of the upfront cash payment was applied to reduce the principal debt owed to CHRP as well as certain prepayment and other fees.  Net of these and other payments, the Company received approximately $6.8 million.
 
 
 
 

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  DYAX CORP.  
       
Dated: April 20, 2010
By:
/s/ George Migausky  
    George Migausky  
   
Executive Vice President and
Chief Financial Officer
  
       
 
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