EXHIBIT 21.1


                                   DYAX CORP.

                           SUBSIDIARIES OF THE COMPANY

Dyax B.V., a company organized under the laws of the Netherlands (f/k/a Target
Quest B.V.)

Dyax Holdings B.V., a company organized under the laws of the Netherlands (f/k/a
Target Quest Holdings B.V.)

Dyax Japan, Ltd., a company organized under the laws of Japan

Dyax S.A., a company organized under the laws of Belgium

Biotage, Inc., a Delaware corporation

Biotage UK, Ltd., a company organized under the laws of the United Kingdom