Dated                   2000

                         ----------------------------





                         KERYX BIOPHARMACEUTICALS INC.



                                    - and -



                            WEST LB PANMURE LIMITED







                         ----------------------------



                          NOMINATED BROKER AGREEMENT



                         ----------------------------









                             ASHURST MORRIS CRISP

                                Broadwalk House

                                5 Appold Street

                                London EC2A 2HA



                              Tel:  020-7638 1111

                              Fax:  020-7972 7990



                              MCJ/PXR/051W.00027

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                                    CONTENTS



CLAUSE                                                                  PAGE



1.   DEFINITIONS AND INTERPRETATION....................................  1

2.   APPOINTMENT AND TERM..............................................  3

3.   FEES AND EXPENSES.................................................  4

4.   TERMINATION.......................................................  5

5.   CONTINUING OBLIGATIONS............................................  6

6.   BROKER'S INDEMNITY................................................  7

7.   TIME OF THE ESSENCE...............................................  9

8.   WAIVER............................................................  9

9.   INVALIDITY........................................................  9

10.  NOTICES..........................................................  10

11.  COUNTERPARTS.....................................................  11

12.  ENTIRE AGREEMENT.................................................  11

13.  MISCELLANEOUS....................................................  12

14.  GOVERNING LAW AND JURISDICTION...................................  12



{PAGE}



THIS AGREEMENT is made on                                               2000.





BETWEEN:-



(1)   KERYX BIOPHARMACEUTICALS INC. (incorporated in Delaware, USA) whose

      executive office is at Kiryat Mada 5, Har Hotzvim, Jerusalem, Israel 91326

      (the "Company");



(2)   WEST LB PANMURE (incorporated in England and Wales with registered no.

      2002991) whose registered office is at New Broad Street House, 35 New

      Broad Street, London EC2M 1SQ (the "Broker"); and



RECITALS



(A)   The Company is proposing to make an application to the London Stock

      Exchange for admission to AIM of all the Shares in issue and to be issued

      pursuant to the IPO.



(B)   On and subject to the terms of this agreement, the Broker has agreed to

      act as nominated broker to the Company for the purposes of the AIM Rules

      in connection with the IPO and following Admission.



THE PARTIES AGREE AS FOLLOWS:-



1.   DEFINITIONS AND INTERPRETATION



1.1  In this agreement the following words and expressions shall have the

     following meanings, unless the context otherwise requires:-



     "Admission" means admission of the share capital of the Company, issued and

     to be issued pursuant to the IPO, to trading on AIM becoming effective as

     provided in paragraph 16.6 of the AIM Rules;



     "Admission Document" means the document proposed to be published in

     connection with the IPO and the Company's admission to AIM as required by

     paragraph 16.07 of the AIM Rules and constituting a prospectus for the

     purposes of the POS Regulations;



     "AIM" means the Alternative Investment Market of the London Stock Exchange;



     "AIM Rules" means the AIM admission rules and AIM trading rules set out in

     chapters 16 and 17 of the Rules of the London Stock Exchange as amended

     from time to time and those other of its rules which govern the admission

     to trading on and the regulation of AIM;



     "Business Day " means a day (excluding Saturdays) on which banks are open

     for business in the City of London;



     "Directors" means the directors and officers of the Company;



     "FSA" means the Financial Services Act 1986;



                                      -1-

{PAGE}



     "Group" means the Company, its subsidiaries and subsidiary undertakings and

     each of them as the context admits and "Group Company" means any one of

     them;



     "IPO" means the proposed IPO by the Company of new Shares pursuant to the

     IPO Agreement;



     "IPO Agreement" means the underwriting agreement dated  2000 made between

     the Company, the Directors and Roth Capital Partners Inc. in connection

     with the IPO and more particularly described in the Admission Document;



     "London Stock Exchange" means London Stock Exchange Limited;



     "Model Code" means a code for dealings in the securities of the Company

     adopted by the Company in terms no less exacting than the model code

     contained in appendix 12 of the Rules of the London Stock Exchange as

     amended from time to time;



     "POS Regulations" means the Public Offers of Securities Regulations 1995;



     "Related Person" means in relation to any party its holding companies and

     subsidiaries and any subsidiary undertaking of any such holding company;



     "Relevant Person" means the Broker and any subsidiary or holding company of

     the Broker and any subsidiary undertaking of any such holding company and

     any of their respective shareholders, directors, officers, employees,

     agents and advisers;



     "Shares" means shares of common stock of par value of $0.001 each in the

     capital of the Company;



     "VAT" means value added tax.

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