On August 9, 2012, the Board of Directors of Dyax Corp. (the "Company") appointed Ivana Magovcevic-Liebisch, PhD, JD, 45, to the new position of Executive Vice President, Chief Operating Officer and appointed Burt Adelman, M.D., 60, Chief Medical Officer, to Executive Vice President, as announced in the Company's Press Release dated August 20, 2012.

Dr. Magovcevic-Liebisch joined Dyax in April 2001 and has served as an executive officer at the Company since 2005. During her tenure, Dr. Magovcevic-Liebisch has been appointed to roles of increasing responsibility. She has served as Vice President of Intellectual Property, Executive Vice President and General Counsel, and, most recently, Executive Vice President and Chief Business Officer. Dr. Magovcevic-Liebisch was Director of Intellectual Property and Patent Counsel for Transkaryotic Therapies, Inc. from 1998 to 2001. Dr. Magovcevic-Liebisch holds a doctorate in genetics from Harvard University and a law degree from Suffolk University.

Dr. Adelman has experience and expertise in drug development and commercialization. He led the successful development of a number of important biologic and small molecule therapeutics, including Angiomax®, Avonex®, Amevive® and Tysabri®. Dr. Adelman began his career with Biogen Idec (then Biogen) in 1991 as Director of Medical Research, and held positions of increasing responsibility including Vice President, Regulatory Affairs, Vice President, Development Operations, and Executive Vice President, Research and Development. He retired from Biogen Idec as Executive Vice President of Portfolio Strategy in 2007. Since 1991, Dr. Adelman has served as a lecturer in medicine at the Harvard Medical School. He was also a faculty member in the Department of Medicine at the Medical College of Virginia from 1984 to 1991, and Chief of the Hematology-Oncology service at the Hunter Holmes McGuire VA Medical Center. From 2009 to 2010, Dr. Adelman was interim President of Research and Development at Eleven Biotherapeutics, Inc. From 2010 to present, Dr. Adelman has served as an advisor to Eleven Biotherapeutics, Inc.

In connection with his appointment, Dr. Adelman has entered into our standard form of Executive Retention Agreement.

(d) Exhibits

99.1  Press release of Dyax Corp. dated August 20, 2012.

99.2  Form of Executive Retention Agreement for executive officers other than
      the CEO. Filed as Exhibit 10.2 to the Company's Current Report on Form 8-K
      (File No. 000-24537) filed on December 23, 2010 and incorporated herein by
      reference.