Keryx Biopharmaceuticals is a biopharmaceutical company focused on the acquisition, development and commercialization of novel pharmaceutical products for the treatment of serious, life-threatening diseases, including diabetes and cancer. Keryx has in-licensed KRX-101, which it is developing for the treatment of diabetic kidney disease. The potential annual market for KRX-101 for the treatment of diabetic nephropathy is estimated to be in excess of $1 billion in the United States alone. In the first quarter of 2004, Keryx announced that it had acquired ACCESS Oncology, a privately held cancer-focused biotechnology company, and its subsidiaries. The acquired drug portfolio includes three clinical stage compounds, designated as KRX-0401, KRX-0402 and KRX-0403. KRX-0401 is a novel, first-in-class, oral Akt-inhibitor that has demonstrated preliminary single agent anti-tumor activity. Keryx is also seeking to in-license or acquire additional clinical-stage drug candidates to bolster the company s portfolio. Keryx Biopharmaceuticals is headquartered in New York.