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AFFYMAX N.V. ANNOUNCES RESEARCH AGREEMENT WITH JOHNSON & JOHNSON

 AFFYMAX N.V. ANNOUNCES RESEARCH AGREEMENT WITH JOHNSON & JOHNSON
 AMSTERDAM, The Netherlands, April 8 /PRNewswire/ -- AFFYMAX N.V. (NASDAQ: AFMXF), announced today that it has entered into a research and development agreement with the R.W. Johnson Pharmaceutical Research Institute, a pharmaceutical research subsidiary of Johnson & Johnson (NYSE: JNJ). Under the agreement, Johnson & Johnson will fund a program at Affymax aimed at developing a therapeutic product. The specific target of the collaboration was not disclosed.
 Under the three year agreement, Affymax will use its synthesis and screening technologies to search for new compounds which stimulate a specific receptor. Johnson & Johnson will be responsible for the subsequent clinical development and marketing of the compounds discovered by Affymax. In addition to research and development funding, Affymax will receive milestone payments during clinical development as well as royalties on product sales. Johnson & Johnson will have world-wide exclusive rights to market the products developed as a result of the collaboration.
 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 preformed by its wholly owned subsidiary, Affymax Research Institute, located in Palo Alto, Calif.
 -0- 4/8/92
 /CONTACT: David B. Singer of AFFYMAX, 415-496-2300/
 (AFMXF JNJ) CO: AFFYMAX N.V.; Johnson & Johnson ST: California IN: MTC SU:


MM-DG -- SJ002 -- 6067 04/08/92 08:30 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
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