Healthcare Industry News:  Hematide 

Biopharmaceuticals Personnel

 News Release - October 25, 2006

Affymax Appoints Grace U. Shin as Vice President of Legal Affairs and Corporate Counsel

PALO ALTO, Calif., Oct. 25 (HSMN NewsFeed) -- Affymax, Inc. a clinical-stage pharmaceutical company, today announced the appointment of Grace U. Shin as vice president of legal affairs and corporate counsel. Ms. Shin, who has more than 15 years of experience as a corporate attorney, joins Affymax as a member of the senior management team.

"Grace's appointment marks the continuing expansion of our senior management team with seasoned and skilled professionals who have strong biotechnology experience," said Arlene M. Morris, president and chief executive officer of Affymax. "Her understanding of the legal and financial operations of biotechnology companies will be a valuable asset to us as we advance our lead product candidate Hematide(TM) through clinical development and, if successful, into commercialization for the treatment of anemia in patients with chronic kidney disease and cancer."

Ms. Shin was most recently vice president of legal affairs and corporate counsel for FibroGen, a biotechnology company developing new treatments for fibrosis, anemia, ischemia, and cancer. In that role, she provided legal counsel and contributed to business development and partnering activities, including negotiating licenses and collaboration agreements with biotechnology and pharmaceutical companies. She also handled equity financings and board and corporate governance matters, as well as intellectual property matters and agreements including research collaborations and in-licenses from academic and commercial entities. Prior to her position at FibroGen, she was a corporate attorney at Pacific Gas & Electric Company in San Francisco, focusing on debt and equity financings and intellectual property matters. While there, she negotiated PG&E's first technology development and exclusive licensing agreement. She began her law career as a business associate at Cooley Godward in San Francisco.

Ms. Shin earned her J.D. from the University of Michigan Law School and her bachelor's degree in business administration from the University of Michigan School of Business Administration.

About Affymax, Inc.

Affymax, Inc. is a clinical-stage biopharmaceutical company developing novel peptide-based drugs to improve the treatment of serious and often life-threatening conditions. Affymax's lead product candidate, Hematide(TM), is currently in Phase 2 clinical trials for the treatment of anemia associated with chronic kidney disease and cancer.

Source: Affymax

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