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AFFYMAX REPORTS DATA ON HEMATIDE STUDIES

October 14, 2005

Affymax has reported clinical data on Hematide, a novel peptide-based drug designed to stimulate the production of red blood cells, which is in late-stage clinical development for anemia due to chronic kidney disease (CKD) and cancer. Hematide, a synthetic peptide-based erythropoiesis-stimulating agent, has a completely novel amino acid sequence that is unrelated to erythropoietin, a hormone that stimulates red blood cell formation, or to any other known naturally-occurring human sequences.

Hematide has potential advantages compared to therapeutic proteins, including uncomplicated chemical synthesis, greater stability than currently marketed products and room temperature storage. Other potential benefits of Hematide include low immunogenicity, monthly administration, simple dosing and rapid onset of action.

Phase I findings and early results from a Phase IIa study of Hematide in patients with CKD have provided initial safety data and proof-of-concept of erythropoietic activity. Results of a Phase I dose-finding study demonstrated that Hematide was well-tolerated and that single doses of Hematide resulted in dose-dependent increases in circulating reticulocytes in healthy volunteers. In addition, Hematide achieved clinically and statistically significant increases in red blood cells and hemoglobin from baseline, which was sustained for at least four weeks. Increases in hemoglobin and reticulocytes are indications of red blood cell production.