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| Keryx Biopharmaceuticals, Inc. Announces Initial Public Offering JERUSALEM, July 28 /PRNewswire/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX; AIM: KRX) today announced that it has priced its global initial public offering of 4,600,000 shares of common stock at a price of $10 per share. Keryx will receive gross proceeds from this offering of approximately $46 million, not including the underwriters' over-allotment. The shares will commence trading today on the NASDAQ National Market under the symbol "KERX" and on the Alternative Investment Market of the London Stock Exchange on August 2, 2000 under the symbol "KRX". Roth Capital Partners, Inc. and WestLB Panmure Limited are global coordinators of the offering. Roth Capital Partners and Gruntal & Co., L.L.C. are co-managers of the U.S. underwriters and WestLB will coordinate the offering outside the U.S. Keryx has granted the underwriters the option to purchase an aggregate of 690,000 additional shares to cover over-allotments, if any. A copy of the final prospectus with respect to this offering may be obtained from Roth Capital Partners, Inc., Syndicate Department, 24 Corporate Plaza, Newport Beach, California 92660. 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. 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 in less time and with lower levels of toxicity than its competitors. Keryx's KinAce platform has produced 13 lead compounds, eight of which have already produced positive results in animal (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 a kidney disease known as diabetic nephropathy. 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. Keryx's shares will trade on both the NASDAQ National Market and the Alternative Investment Market of the London Stock Exchange (Nasdaq: KERX; AIM: KRX). 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. Keryx
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