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Dyax Raises $51.8M in Stock Deal

Dyax (NASDAQ: DYAX), the Cambridge, MA-based maker of a drug for a rare inflammatory disease, said today it has raised $51.8 million in a stock offering. The company sold 17 million shares at $3.25 apiece in a deal underwritten by Jefferies & Company and Needham & Company. Dyax plans to use the money on the commercial push for ecallantide (Kalbitor), a drug for acute attacks of hereditary angioedema.