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AFFYMAX ANNOUNCES INITIAL PUBLIC OFFERING OF 4,000,000 SHARES OF COMMON STOCK

 AFFYMAX ANNOUNCES INITIAL PUBLIC OFFERING OF
 4,000,000 SHARES OF COMMON STOCK
 AMSTERDAM, The Netherlands, Dec. 17 /PRNewswire/ -- Affymax N.V. announced today the initial public offering of 4,000,000 shares of common stock at a price of $20 per share. All of the shares are being sold by the company. Affymax will be listed on the NASDAQ national Market System under the symbol AFMXF. Of the shares being offered, 3,000,000 are being offered in the United States and 1,000,000 are being offered outside the United States.
 Goldman, Sachs & Co. and Alex Brown & Sons Inc. are co-managing the offering. A final copy of the prospectus can be obtained from the office of Goldman, Sachs & Co., 85 Broad St., New York, NY 10004 or Alex Brown & Sons Inc., 135 East Baltimore St., Baltimore, Md. 21202.
 The company plans to use the proceeds from the offering for research and development, capital expenditures and general corporate purposes.
 Affymax, a Netherlands corporation headquartered in Amsterdam, is developing new technologies to accelerate the pace of drug discovery. Affymax is applying these technologies across a broad range of diseases to discover and develop drugs independently and in collaboration with established pharmaceutical companies. The company's research and development activities are primarily performed by its wholly owned subsidiary Affymax Research Institute, located in Palo Alto, Calif. Following the offering, the company will have approximately 14.5 million shares outstanding.
 -0- 12/17/91
 /CONTACT: David B. Singer or Diana E. Kapp of Affymax Research Institute, 415-496-2300/ CO: Affymax N.V. ST: California IN: MTC SU: OFR


DB -- SJ002 -- 2804 12/17/91 08:01 EST
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Publication:PR Newswire
Date:Dec 17, 1991
Words:273
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