GE (GE) Unit, Dyax (DYAX) Enter c-Met Peptide Licensing Agreement

GE Healthcare, a unit of GE (NYSE: GE), and Dyax Corp. (NASDAQ: DYAX) today announced a licensing agreement for the development and commercialization of peptides binding to c-Met, which provides upfront, milestone, and royalty payments to Dyax. Research of potential diagnostic applications and use as a patient selection biomarker in oncology will be explored by GE Healthcare in collaboration with academic institutions and pharmaceutical companies. The license includes application of the peptides in positron emission tomography (PET), single proton emission computed tomography (SPECT), and optical imaging.

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