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Dyax Corp. (Dyax) is a clinical stage biotechnology company focused on the discovery, development and commercialization of biotherapeutics for unmet medical needs, with an emphasis on oncology and inflammatory indications. Dyax uses the drug discovery technology, known as phage display, to identify antibody, small protein and peptide compounds for clinical development. The Company’s product DX-88 (ecallantide), is in late stage clinical trial development in two separate indications. In addition to DX-88, the phage display technology has allowed Dyax to develop a substantial pipeline of drug candidates. In April 2007, the Company treated a patient in a second Phase III study, known as EDEMA4.(Source: 10-K)