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MARION MERRELL DOW COMMITS TO MAJOR EXPANSION OF AFFYMAX ALLIANCE

 MARION MERRELL DOW COMMITS TO MAJOR EXPANSION OF AFFYMAX ALLIANCE
 AMSTERDAM, The Netherlands, July 23, /PRNewswire/ -- Affymax N.V. and Marion Merrell Dow Inc. (NYSE: MKC) jointly announced today that they have significantly expanded their strategic alliance. Based on the rapid progress at Affymax, Marion Merrell Dow has substantially increased its commitment to fund specific drug discovery programs at Affymax and to extend the term of the collaboration until 1997.
 Fred W. Lyons, Jr., president and chief executive officer of Marion Merrell Dow commented, "We are pleased with the progress Affymax has made, and, consequently, Marion Merrell Dow will more than double the resources it has committed in order to capitalize on the strengths of Affymax's technology. Although neither company contemplated expansion at the outset of the collaboration, it is apparent to us now that Affymax's portfolio of technologies offers a unique opportunity for cost-effective drug discovery."
 "This expansion of the collaboration is a sign that the commercialization of our technology is progressing well", stated Alejandro Zaffaroni, Ph.D., chairman and chief executive officer of Affymax. "We look forward to working with Marion Merrell Dow's scientific team to bring new products to the market."
 Marion Merrell Dow and Affymax entered into a collaboration in 1991 under which Marion Merrell Dow agreed to fund drug discovery and development work on three specific targets. Under the original three- year agreement, Marion Merrell Dow made an equity investment and provided R&D funding.
 Affymax (NASDAQ: AFMXF), a Netherlands corporation headquartered in Amsterdam, is developing new technologies to accelerate the pace of drug discovery and has additional research programs in diagnostic products. Affymax is applying these technologies across a broad range of diseases to discover and develop products independently and in collaboration with established pharmaceutical companies. The majority of the company's research and development activities are performed by its wholly owned subsidiary, Affymax Research Institute, located in Palo Alto, Calif.
 -0- 7/23/92
 /CONTACT: David M. Thompson of Marion Merrell Dow, 816-966-4000; or Diana E. Kapp of Affymax, 415-496-2300/
 (MKC AFMXF) CO: Affymax; Marion Merrell Dow ST: California IN: MTC SU: CON


RM-MM -- SJ001 -- 2255 07/23/92 08:05 EDT
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Date:Jul 23, 1992
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