Locke Lord Represents Dyax Corp. in Underwritten Public Offering Raising $230 Million

A Locke Lord team assisted by Gene McDermott (from the Providence office), represented Dyax Corp. (“Dyax”) in its underwritten public offering that priced on Tuesday, April 7, 2015 and closed on Monday, April 13, 2015.  The offering, including full exercise of the underwriters’ overallotment option, raised gross proceeds to Dyax of approximately $230 million. Dyax intends to use the offering proceeds for development and commercialization (if approved) of DX-2930, a prophylactic treatment for hereditary angioedema (HAE), as well as for research and development of product candidates to address other plasma-kallikrein-mediated disorders, and to prepay all of the outstanding debt under an existing loan agreement. A copy of the Dyax news release about the transaction is available here.