Affymax Announces Executive Management Promotions.

PALO ALTO, Calif. -- Affymax, Inc. (Nasdaq: AFFY) today announced the promotions of Anne-Marie Duliege, M.D., M.S., to chief medical officer and Christine Conroy, PharmD., to vice president, Regulatory Affairs and Good Clinical Practice Compliance.

"The promotions of Anne-Marie and Christine are a reflection of the significant contributions and leadership each has brought to the advancement and development of our product pipeline, specifically to our lead product, Hematide[TM]," said Robert Naso, Ph.D., executive vice president, Research and Development at Affymax. "We are fortunate to have access to their depth of knowledge and years of experience in their respective fields and look forward to their expanded leadership roles as we grow our business and advance Hematide into Phase 3 clinical trials and beyond."

Dr. Duliege joined Affymax in 2004 as vice president, Clinical, Medical and Regulatory Affairs. Under her leadership, Affymax's lead compound, Hematide, completed Phase 1 and Phase 2 clinical trials and is now poised to enter a Phase 3 clinical program. As chief medical officer, Dr. Duliege will continue to lead the Clinical, Medical and Regulatory Affairs departments and will have responsibility for clinical development of Affymax's pipeline of products. She will also lead strategy development for medical affairs activities, including post-marketing medical support and reporting, and she will continue to oversee the integration of our clinical and regulatory strategies.

Dr. Conroy, in her new position as vice president, Regulatory Affairs and GCP Compliance, will continue to report to Dr. Duliege where she will represent all Affymax programs and projects to the U.S. and international regulatory agencies. She will take the lead in developing regulatory strategies for Hematide for development in the U.S. and in coordinating implementation of our regulatory strategies for Hematide with Affymax's partner Takeda Pharmaceutical Company Limited. Dr. Conroy will also oversee our compliance with good clinical practices, or GCP, regulations. Dr. Conroy joined Affymax in 2004 as senior director, Regulatory Affairs and was subsequently promoted to executive director, Regulatory Affairs in January 2006. Under her leadership, Affymax received clearance by the FDA and European regulatory agencies enabling the company to evaluate Hematide in Phase 2 clinical trials. Most recently, Dr. Conroy was instrumental in discussions with the FDA on the design of the Phase 3 program for Hematide in chronic renal failure.

About Affymax, Inc.

Affymax, Inc. is a biopharmaceutical company developing novel drugs to improve the treatment of serious and often life-threatening conditions. Affymax's lead product candidate, Hematide[TM], is currently in Phase 3 clinical trial stage for the treatment of anemia associated with chronic renal failure and in clinical trials for the treatment of anemia in cancer patients. For additional information, please visit www.affymax.com.

This release contains forward-looking statements, including statements regarding the timing, design and results of the Company's clinical trials and drug development program. The Company's actual results may differ materially from those indicated in these forward-looking statements due to risks and uncertainties, including risks relating to the continued safety and efficacy of Hematide in clinical development, regulatory requirements and approvals, research and development efforts, industry and competitive environment, intellectual property rights and disputes and other matters that are described in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statement in this press release.