Keryx Biopharmaceuticals Notified that Nasdaq Has Extended Minimum Bid Price Rule...

Keryx Biopharmaceuticals Notified that Nasdaq Has Extended Minimum Bid Price
Rule Compliance Period

NEW YORK, Oct. 23 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc.
(Nasdaq: KERX) announced today that it has received notice from The Nasdaq
Stock Market ("Nasdaq") stating that Nasdaq Marketplace Rule 4310(c)(4), which
requires companies to maintain a minimum bid price of $1.00 per share, has
been temporarily suspended. Based on this action, Nasdaq informed the Company
that it now has until January 23, 2009, to achieve compliance with Rule
4310(c)(4).

About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition, development and
commercialization of medically important, novel pharmaceutical products for
the treatment of life-threatening diseases, including renal disease and
cancer. Keryx is developing Zerenex(TM) (ferric citrate), an oral, iron-based
compound that has the capacity to bind to phosphate and form non-absorbable
complexes. Zerenex is currently in Phase 2 clinical development for the
treatment of hyperphosphatemia (elevated phosphate levels) in patients with
end-stage renal disease. The Company is also developing KRX-0401 (perifosine),
a novel, potentially first-in-class, oral anti-cancer agent that modulates
Akt, a protein in the body associated with tumor survival and growth. KRX-0401
also modulates a number of other key signal transduction pathways, including
the JNK and MAPK pathways, which are pathways associated with programmed cell
death, cell growth, cell differentiation and cell survival. KRX-0401 is
currently in Phase 2 clinical development for multiple tumor types. The
Company also has an in-licensing and acquisition program designed to identify
and acquire additional drug candidates. Keryx is headquartered in New York
City.

KERYX CONTACT:
Lauren Fischer
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: 212.531.5965
E-mail: lfischer@keryx.com

SOURCE Keryx Biopharmaceuticals, Inc.

Lauren Fischer, Director - Investor Relations of Keryx Biopharmaceuticals,
Inc., +1-212-531-5965, lfischer@keryx.com