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Dyax Corp. And Kadmon Sign Strategic Licensing Agreement For DX-2400

Ecallantide and other compounds in Dyax’s pipeline were identified using its patented phage display technology, which rapidly selects compounds that bind with high affinity and specificity to therapeutic targets. Dyax leverages this technology broadly through the Licensing and Funded Research Program (LFRP). Collectively, LFRP agreements generate significant revenue for Dyax in the form of license fees, milestone payments and/or royalties. The success of the Company’s LFRP is illustrated by the program’s advanced licensee pipeline that includes 18 candidates in clinical development. Of those candidates, three are in Phase 3 clinical trials, six are in Phase 2 and nine are in Phase 1.

Dyax is headquartered in Burlington, Massachusetts. For online information about Dyax Corp., please visit www.dyax.com.

About Kadmon Corporation

Kadmon Corporation, LLC is a global company built on a 21 st-century paradigm for the translation of innovative science into treatment. The company currently offers products and services for the treatment and management of hepatitis C, and is pioneering novel medicines in areas of serious disease, including oncology, infectious diseases, immunology and neurodegenerative diseases. Emphasizing emerging concepts in molecular biology and genomics, Kadmon is developing treatments and treatment combinations that target the metabolomics and signaling pathways associated with disease, with the goal addressing some of today’s most pressing areas of unmet medical need. For more information, visit www.kadmon.com.

Dyax Disclaimer

This press release contains forward-looking statements, including statements regarding the expected benefits of Dyax’s license to Kadmon. Statements that are not historical facts are based on Dyax’s current expectations, beliefs, assumptions, estimates, forecasts and projections about the industry and markets in which Dyax competes. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors which may affect the expected benefits of Dyax’s license to Kadmon include the risks that: Dyax's future benefits from this license will depend on the efforts and priorities of Kadmon, which may be subject to changes in Kadmon's business direction or priorities; DX-2400 may not show sufficient therapeutic effect or an acceptable safety profile in clinical trials or could take a significantly longer time to gain regulatory approval and market acceptance than Dyax or Kadmon expects or may never gain such approval or acceptance; others may develop technologies or products superior to or on the market before DX-2400; and other risk factors described or referred to in Dyax's most recent Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. Dyax cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Dyax undertakes no obligations to update or revise these statements, except as may be required by law. Dyax specifically disclaims responsibility for information describing Kadmon and its business other than the license with Dyax.

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