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AFFYMAX SUBSIDIARY RAISES $21 MILLION

 PALO ALTO, Calif., Sept. 27 /PRNewswire/ -- Affymax N.V. (NASDAQ: AFMXF) announced today that its subsidiary Affymetrix has completed a fully subscribed private placement of preferred shares. Affymetrix raised the target of $16.6 million from investors including specialized investment and pension funds, banks and qualified individuals in the United States, Europe and the Far East. In addition, Affymax N.V. has purchased an over allotment for $4.4 million and has provided Affymetrix with a license to Affymax technologies and patents for diagnostic applications.
 Affymetrix intends to use the proceeds of the financing to fund product development of innovative DNA chip systems, based on Affymax VLSIPS(TM) technology, for the clinical diagnostic, biomedical research and emerging genetic analysis markets. As of the close of the offering, Affymax owns 65 percent of the total Affymetrix shares outstanding.
 Affymetrix is developing a range of products to enable researchers and clinicians to analyze genetic information rapidly and cost- effectively. Located in Santa Clara, Calif., Affymetrix has 39 full- time employees. Affymax 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 products independently and in collaboration with established pharmaceutical companies.
 -0- 9/27/93
 /Contact: Diana E. Kapp of Affymax, 415-496-2379/
 (AFMXF)


CO: Affymax N.V. ST: California IN: MTC SU:

SA-LH -- SJ001 -- 5781 09/27/93 08:30 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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