Dyax Corp. (NASDAQ:DYAX) is a biopharmaceutical company focused on novel therapeutics for patients with rare diseases. One of the things that initially attracted us to this company was its development of a promising new drug for hereditary angioedema, a rare and potentially life-threatening disease that causes swelling. Ireland-based biopharmaceutical company Shire also recognized the potential of this experimental drug and, in November, offered to purchase Dyax in an all-cash deal valued at approximately $5.9 billion—a premium of about 35%. We were pleased to be among the investors who benefited from this lucrative deal.
From Meridian Growth Fund Semi-Annual Letter to Shareholders 2016.
