Dyax Corp. and Novellus Biopharma AG Announce Partnership to Develop and Commercialize KALBITOR® (ecallantide) for Hereditary

  Dyax Corp. and Novellus Biopharma AG Announce Partnership to Develop and
  Commercialize KALBITOR® (ecallantide) for Hereditary Angioedema (HAE) and
  Other Angioedema Indications in Latin America

Business Wire

BURLINGTON, Mass. & BOGOTA, Colombia -- January 31, 2013

Dyax Corp. (NASDAQ: DYAX), a developer of novel biotherapeutics for unmet
medical needs, and Novellus Biopharma AG (Novellus) announced today a
strategic partnership for the development and commercialization of KALBITOR^®
(ecallantide) for the treatment of hereditary angioedema (HAE) and other
angioedema indications in select regions in Latin America, including
Argentina, Brazil, Chile, Colombia, Mexico and Venezuela. KALBITOR is marketed
in United States for the treatment of acute attacks of HAE in patients 16
years of age and older.

Under the terms of the exclusive license agreement, Dyax will receive an
upfront payment and is eligible to receive future sales milestones. Dyax is
also eligible to receive royalties on net product sales. Novellus is solely
responsible for all costs associated with necessary development, regulatory
activities, and the commercialization of KALBITOR in the covered territories.
Additionally, Novellus will purchase drug product from Dyax on a cost-plus
basis for commercial supply.

"We are pleased to announce a new partnership for KALBITOR in Latin America,
and look forward to working with Novellus toward its commercialization in this
region,” said Gustav Christensen, President and Chief Executive Officer of
Dyax Corp. “Novellus’ experience in bringing novel biotherapeutics to market
will be important in delivering KALBITOR to HAE patients in this region. We
continue to make strides in expanding the availability of KALBITOR and
delivering an acute HAE treatment to patients in need around the globe."

“Based on the clinical and commercial success of KALBITOR as an acute
treatment for HAE in the United States, we are excited to bring this important
therapeutic to the Latin American market,” commented David Muñoz Guzman, Chief
Executive Officer of Novellus. “We believe there is a great opportunity in
Latin America to provide solutions for the management of HAE and we look
forward to working with Dyax to bring KALBITOR to these markets.”

About Dyax

Dyax is a fully integrated biopharmaceutical company focused on the discovery,
development and commercialization of novel biotherapeutics for unmet medical
needs. The Company’s key value drivers are the KALBITOR^® (ecallantide)
business and the angioedema portfolio, as well as the Licensing and Funded
Research Program (LFRP).

Dyax developed KALBITOR on its own and, since February 2010, the Company has
been selling it in the United States for the treatment of acute attacks of
hereditary angioedema (HAE) in patients 16 years of age and older. Outside the
United States, the Company has established partnerships to obtain regulatory
approval for and commercialization of KALBITOR in certain markets and is
evaluating opportunities in others.

The Company is currently developing products to expand its angioedema
portfolio, including diagnostic strategies to identify plasma kallikrein
(bradykinin) mediated (PKM) angioedema and a therapeutic candidate, DX-2930,
for the prophylactic treatment of HAE and other PKM angioedemas.

KALBITOR and DX-2930 were identified using Dyax’s 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 LFRP. This program has provided the Company a portfolio of product
candidates being developed by its licensees, which currently includes12
royalty and/or milestone bearing product candidates in various stages of
clinical development, including three in Phase 3 trials.

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

About Novellus

Established in 2012, Novellus Biopharma is a Latin American focused
pharmaceuticals company devoted to the development, registration
andcommercializationof drugs and other specialty based treatments.
Headquartered in Switzerland, Novellus Biopharma AG strives to be the first
Pan-Latin American provider of innovative and high value-added treatments for
orphan diseases. Backed by specialized healthcare investors, the Company
leverages deep knowledge in the regulatory, marketing and commercialization
field.

Dyax Disclaimer

This press release contains forward-looking statements, including statements
regarding the prospects for therapeutic benefits and treatment advantages of
KALBITOR for HAE. 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 collaboration with Novellus include
the risks that: Dyax's future benefits from this collaboration will depend on
the efforts and priorities of Novellus, which may be subject to changes in
Novellus' business direction or priorities; KALBITOR may take longer to gain
regulatory approval and market acceptance in Latin America than Dyax or
Novellus expects or may never gain such approval or acceptance; products other
than KALBITOR may be approved or gain market acceptance before KALBITOR; and
other risk factors described or referred to in Item 1A, "Risk Factors" 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, the Dyax logo and KALBITOR are registered marks of Dyax Corp.

Contact:

Dyax Corp.
Jennifer Robinson, 617-250-5741
Associate Director,
Investor Relations and Corporate Communications
jrobinson@dyax.com