News & Events

Franklin Lakes, NJ and Cambridge, MA --June 13, 2001-- BD Biosciences (BDB), a division of BD (Becton, Dickinson and Company) (NYSE:BDX), and Dyax Corp. (Nasdaq: DYAX) today announced the establishment of a strategic relationship for the discovery of antibodies using Dyax's proprietary phage display technology. Under the terms of the collaboration, BDB has obtained rights to antibodies identified using Dyax's proprietary human antibody library and screening technology.

BDB will have the exclusive right to market the Dyax antibodies as research products to the life science market. Dyax has retained all rights to use these antibodies in the therapeutic field. Each company has the right to collaborate with others to develop proteomics products using these antibodies.

According to Deborah J. Neff, President, BD Biosciences, "Our partnership with Dyax is a fundamental step to position BDB to be a leader in the rapidly emerging field of proteomics. BDB, through its Pharmingen, Transduction Laboratories and Immunocytometry Systems product groups, already is a world leader in providing antibodies against cellular and intracellular markers in human, mouse and other species. Dyax's phage display technology will accelerate the generation of thousands of new antibodies significantly enhancing BDB's position as the partner of choice in proteomics."

"BDB is an ideal partner to drive the power of phage display technology in the research products and proteomics fields," said Henry Blair, Chairman and Chief Executive Officer of Dyax Corp. "This is another case of Dyax collaborating with a world leader to exploit the power of phage display in their market, generating both short term revenue and royalties for Dyax. Our corporate partnering strategy provides resources and focus to support Dyax's principal objective, the development of human therapeutic products."

BDB provides innovative tools, systems and solutions supporting the life sciences around the world, accelerating the pace of discovery and diagnosis. From genes to proteins to cells, BDB offers integrated, high-value applications in drug discovery and development, flow cytometry systems, immune function monitoring, and functional genomics. With fiscal year 2000 revenues of approximately $550 million, BD Biosciences is comprised of Clontech Laboratories, Discovery Labware, Immunocytometry Systems, Pharmingen and Transduction Laboratories, names that have been known and trusted in the life sciences for years.

BD is a medical technology company that manufactures and sells a broad range of supplies, devices and systems for use by healthcare professionals, medical research institutions, industry and the general public.

Dyax Corp. is a biopharmaceutical company that has developed and patented phage display technology with applications in the discovery and development of a broad range of compounds for the treatment and diagnosis of diseases and for the purification and manufacture of biopharmaceuticals and other chemicals. Through the use of phage display technology, Dyax's scientists, collaborators and licensees seek to discover peptides and proteins, including human antibodies, that bind tightly to specific molecular targets. Dyax, through its Biotage subsidiary, also develops, manufactures and sells chromatography separations systems and products. For additional information, visit www.dyax.com.

This press release contains forward-looking statements, including statements regarding Dyax' s research and development programs and collaborations. 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 that 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 future operating results, research and development programs, clinical trials and collaborations include Dyax's dependence on the expertise, effort, priorities and contractual obligations of our collaborators in the development, clinical trials, manufacture, marketing, sales and distribution of its biopharmaceuticals; the risk that biopharmaceuticals developed by Dyax or its collaborators may not show therapeutic effect or an acceptable safety profile in clinical trials or could take a significantly longer time to gain regulatory approval than Dyax expects or may never gain approval; the risk that Dyax's phage display-derived products may not gain market acceptance; Dyax's ability to obtain and maintain intellectual property protection for Dyax's products and technologies; the development of technologies or products superior to Dyax's technologies or products; and other risk factors described or referred to in our most recent Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

This press release may contain certain forward-looking statements (as defined under Federal securities laws) regarding BD's performance, including future revenues, products and income, or events or developments that BD expects to occur or anticipates occurring in the future. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. Factors that could cause actual results to vary materially from any forward-looking statement include, but are not limited to: competitive factors; pricing and market share pressures; uncertainties of litigation; BD's ability to achieve sales and earnings forecasts, which are based on sales volume and product mix assumptions, to achieve its cost savings objectives, and to achieve anticipated synergies and other cost savings in connection with acquisitions; changes in regional, national or foreign economic conditions; increases in energy costs; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; changes in interest or foreign currency exchange rates; delays in product introductions; and changes in health care or other governmental regulation, as well as other factors discussed in this press release and in BD's filings with the Securities and Exchange Commission. BD does not intend to update any forward-looking statements.

Dyax, the Dyax logo, and Biotage are the registered trademarks of Dyax Corp. and its subsidiaries.