Biopharmaceutical firm Dyax Corp. said Wednesday the company has a granted a non-exclusive license to its library of antibodies to ZymoGenetics Inc.

Dyax (Nasdaq DYAX), headquartered in Cambridge, Mass., has issued non-exclusive licenses to other companies in the past as well. The arrangement allows Dyax to generate near-term revenue as well as potential milestones and royalties on future products, the company said in a statement on the agreement.

Seattle-based ZymoGenetics will pay Dyax upfront and annual technology license fees, clinical milestone payments, and royalties on net sales of products that may result of ZymoGenetics use of the Dyax library, Dyax said.