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AFFYMAX FILES FOR INITIAL PUBLIC OFFERING

             AFFYMAX FILES FOR INITIAL PUBLIC OFFERING
    AMSTERDAM, The Netherlands, Nov. 19 /PRNewswire/ -- Affymax N.V.


announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 3.0 million common shares. It is currently anticipated that the initial public offering price will be between $17 and $20 per share.
    Goldman, Sachs & Co. and Alex Brown & Sons Inc. will act as the managing underwriters of the offering.
    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 majority of the company's research and development activities are performed by its wholly owned subsidiary Affymax Research Institute, located in Palo Alto, Calif.
    A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective.  These securities may not be sold, nor may any offers to buy be accepted prior to the time the registration statement becomes effective.  This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.  Following the offering, the company will have approximately 13.5 million shares outstanding.
    -0-                       11/19/91
    /CONTACT:  David B. Singer of Affymax, 415-496-2300/ CO:  Affymax N.V. ST:  The Netherlands IN:  MTC SU:  OFR SE-EH -- LA011 -- 5008 11/19/91 13:57 EST
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Publication:PR Newswire
Date:Nov 19, 1991
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