Dyax Files Shelf Registration Statement.

CAMBRIDGE, Mass. -- Dyax Corp. (Nasdaq:DYAX) announced today that it has filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (SEC).

The shelf registration statement, when declared effective by the SEC, would give Dyax the ability to offer and sell up to 11.0 million shares of its common stock, which may be issued as shares, as warrants to purchase common stock, or in a combination of shares and warrants. After the shelf registration becomes effective, the common stock and/or warrants may be issued from time to time and through one or more methods of distribution, subject to market conditions and the company's capital needs. The terms of any future offerings would be established at the time of the offering. Although Dyax does not have any commitments or immediate plans to sell shares or warrants under the registration statement, proceeds from any offering may be used for general corporate purposes, including financing its clinical development programs.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

A copy of the prospectus included in the registration statement may be obtained at the SEC's website at www.sec.gov, through the Investor Information section of the Dyax website at www.dyax.com or via written request to Dyax Corp., 300 Technology Square, Cambridge, MA 02139, Attention: Investor Relations. In addition, Dyax will file a prospectus supplement with the SEC in connection with any offering under the shelf registration statement.

About Dyax

Dyax Corp. is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis on cancer and inflammatory indications. Dyax utilizes its proprietary drug discovery technology to identify antibody, small protein and peptide compounds for clinical development.

Dyax Disclaimer 

This press release contains forward-looking statements regarding Dyax Corp., including statements regarding Dyax's registration statement and the use of proceeds from any sales under such registration statement. Statements that are not historical facts are based on Dyax's current expectations, beliefs, assumptions and estimates. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. These statements speak only as of the date of this release, and Dyax undertakes no obligation to update or revise these statements, except as may be required by law.