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Affymax Announces Appointment of Herb Cross as Chief Financial Officer

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^{Published in Health and Fitness on Friday, February 4th 2011 at 18:41 GMT by Market Wire}  

PALO ALTO, Calif.--([ BUSINESS WIRE ])--Affymax, Inc. (NASDAQ:AFFY) today announced that Herb Cross, the companya™s vice president of finance and chief accounting officer, will become Affymaxa™s chief financial officer effective March 4, 2011. Mr. Crossa™ succession to the position is timed with the departure of Paul Cleveland, executive vice president and chief financial officer, who will resign from his post to assume a new role in a private equity firm.

John Orwin, Affymaxa™s chief executive officer, stated, aIt is with great regret that I accept Paula™s resignation. He has been a tremendous asset and instrumental in the growth and success of the organization during his tenure. In particular, I would like to recognize and thank him for building a strong financial organization, including the appointment of Herb, to succeed him.a

Prior to joining Affymax, Mr. Cross was vice president, Finance for Facet Biotech Corporation, a public clinical-stage biotech company. Prior to Facet Biotech, he was corporate controller at PDL BioPharma, a public bio-pharmaceutical company with more than $400 million in annual revenues. Before that, he held positions of increasing responsibility, including vice president, Finance, at Neoforma, Inc., a public e-commerce software company, as well as the position of manager, Assurance and Business Advisory Services at Arthur Andersen, LLP. Mr. Cross earned a B.S. from the Haas School of Business at the University of California, Berkeley.

About Affymax, Inc.

Affymax, Inc. is a biopharmaceutical company committed to developing novel drugs to improve the treatment of serious and often life-threatening conditions. Affymax's product candidate, Hematidea"/peginesatide, recently completed Phase 3 clinical trials for the treatment of anemia associated with chronic renal failure. For additional information, please visit [ www.affymax.com ].