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Exhibit 10.51
 ***Text Omitted and Filed Separately
Confidential Treatment Requested
Under 17 C.F.R. §§ 200.80(b)(4) and 240.24b-2
 LICENSE AGREEMENT
 This License Agreement DYAX Corp. Micromet AG
 Recitals
 A.
 B.
 Now, Therefore,
 ARTICLE 1
 DEFINITIONS
  1.1 Affiliate
 1.2 Field of Use in vitro in vitro
 
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in vitro
 1.3 First Commercial Sale
 1.4 Licensed Product
 1.5 Licensee
 1.6 Licensor
 1.7 Patent Rights
  ARTICLE 2
 GRANT OF RIGHTS
 2.1 License Grant
 2.2 Limitation of Rights
 
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filed separately with the Commission. Confidential treatment has been requested
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2.3 Covenant Not to Sue
 ARTICLE 3
 PAYMENT OBLIGATIONS
 3.1 Signing Fee and Milestones
 (a) Signing Fee
 (b) IND Milestone
 (c) Phase III Milestone
 (d) NDA Milestone
 (e) First Commercial Sale
 (f) First Anniversary
  3.2 Reports and Payments
 
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(a) Commercial Reports
 (b) Terms of Payment The Wall Street Journal
 3.3 Specific Definition
 ARTICLE 4
 REPRESENTATIONS AND WARRANTIES
 4.1 Authorization and Rights
 4.2 Disclaimer of Warranties
 (a)
 (b)
 (c)
 (d)
 
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(e)
 (f)
 (g)
  ARTICLE 5
 INDEMNIFICATION
 5.1 Indemnification
 ARTICLE 6
 TERM AND TERMINATION
 6.1 Term
 6.2 Termination by Licensee
 6.3 Termination by Licensor
 
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6.4 Other Material Breach
 6.5 Effect of Termination
 ARTICLE 7
 MISCELLANEOUS
 7.1 Notices
 If to Licensor:
    
    If to Licensee:Dyax Corp.
    
    
    
    To the address or facsimileOne Kendall Square, Bldg. 600, Suite 623
    
    
    
    set forth belowCambridge, MA 02139 USA
    
    
    
    the signature to thisAttention: Chief Executive Officer
    
    
    
    AgreementFacsimile: (617) 225-2501
  7.2 Governing Law & Jurisdiction
 7.3 Specific Performance
 7.4 Assignment
 6.




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7.5 Compliance With Law
 7.6 Amendment and Waiver
 7.7 Severability
 7.8 Entire Agreement
 In Witness Whereof,
 7.




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LICENSOR
    
    LICENSEEDyax Corp.
    
    Micromet AGBy:
/s/ Pamela A. Hay
    
    By: /s/ Erich FelberName: Pamela A. Hay
    
    Name: Erich
FelberTitle: SVP, Corporate Development
    
    Title: CEOBy: /s/ Christian ItinName: Christian ItinTitle: VP Corporate DevelopmentAddress of Licensee:Am Klopfrespitz 1982152 MartinsriedGermanyFacsimile: 49-89-895277-22
 8.




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ATTACHMENT A
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