KERYX BIOPHARMACEUTICALS, INC. ANNOUNCES START OF DEALINGS IN FIRST-EVER JOINT AIM / NASDAQ IPO

JERUSALEM, ISRAEL - August 2, 2000 - Keryx Biopharmaceuticals, Inc. (AIM: KRX, Nasdaq: KERX) announced the start of unconditional dealings today, August 2, 2000 in London and New York.

The deal is the first-ever joint IPO on the AIM Market in London and NASDAQ in New York.

Following its global initial public offering of 4,600,000 shares of common stock, Keryx will receive gross proceeds of approximately £30 million ($46 million), not including the underwriters' over-allotment. The company has a total market value of approximately £125 million.

About Keryx Biopharmaceuticals, Inc.
Keryx is a pharmaceutical company that uses data discovered through the mapping of the human genome to generate drug candidates that target the regulation of protein kinases. Protein kinases play a key role in the way cells communicate. Keryx believes that its approach to drug design allows it to discover more drug candidates with lower levels of toxicity in less time than its competitors.

Keryx's KinAce platform has to date produced 13 lead compounds, eight of which have already produced positive results in in vivo tests. In addition to developing drug candidates with Keryx's KinAce platform, Keryx has obtained a license for sulodexide (KRX-101) and is developing it for the treatment of diabetic nephropathy, a complication of diabetes.

Keryx is a Delaware corporation with its research and development and administration based in Jerusalem, Israel. Keryx plans to open an office in Boston, Massachusetts. Personnel in this office will coordinate Keryx's clinical trial programs and financial, business development and investor relations functions.

ENQUIRIES:

Keryx Biopharmaceuticals, Inc.

Bob Gallahue, CFO
Tel: (617) 512-6883
Fax: (978) 689-4267
E-Mail: bobg@keryxbiopharm.com

Bob Trachtenberg, General Counsel
Tel: +972 (2) 541 2700
Fax: +972 (2) 541 2701
E-Mail: bob@keryxbiopharm.com

WestLB Panmure Limited

Dickie Hall
Tel: +44 (207) 860 3586
Fax: +44 (207) 860 3880

Gavin Anderson & Company

Philip Ward / Charlotte Stone
Tel: +44 (207) 457 2345
Fax: +44 (207) 457 2330
E-Mail: cstone@gavinanderson.co.uk

To understand this offering and our business fully, you should carefully read the Company's prospectus including the risk factors and the financial statements. Copies of this are available from the offices of WestLB Panmure Limited, at New Broad Street House, 35 New Broad Street, London EC2M 1SQ.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Neither this press release nor any copy of it may be taken, transmitted or distributed directly or indirectly, in or into Canada, Australia, Japan or the Republic of Ireland. The press announcement, for which Keryx is responsible, has been approved by WestLB Panmure Limited solely for the purposes of Section 57 of the Financial Services Act 1986. It does not constitute an offer of invitation to purchase any securities. WestLB Panmure Limited is acting exclusively for Keryx in relation to the proposals set out in this press announcement. WestLB Panmure Limited is not acting for, and will not be responsible to, any person other than Keryx for providing the protection s afforded to customers of WestLB Panmure Limited or for advising any other person on the contents of this document or any matters referred to herein.

This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. These include, among others, statements about expectations of future revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the Company's results to differ materially from expectations. These risks include the Company's ability to further develop its business-to-business and licensing businesses, the Company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the Company's products and services, competitive factors, new products and technological changes, and other such risks as the Company may identify and discuss from time to time, including those risks disclosed in the Company's amended S-1 filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the Company's plans will be achieved.