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Maxygen Announces Hold on MAXY-alpha Development Program
Date:9/21/2007

milestone payments and royalties based on any product sales.

About Maxygen

Maxygen is a biopharmaceutical company focused on developing improved versions of protein drugs. We look for opportunities where our proprietary protein modification technologies can address significant therapeutic needs. For more information about Maxygen's products and technologies, visit http://www.maxygen.com.

Forward-Looking Statements

This news release contains forward-looking statements about our research and business prospects, including those relating to our ability to develop any human therapeutic products suitable for commercialization; whether Roche will resume the clinical development of our MAXY-alpha product candidates or undertake any other development activities related to the MAXY-alpha development program, and the timing of any such development or activities; the nature, scope and timing of any further evaluation by Roche of the data that resulted in a voluntary hold on the clinical development of MAXY-alpha and whether any such evaluation will adequately assess the meaning or significance of such data or the suitability of MAXY-alpha for further development; the success or continuation of our MAXY-alpha development program and our existing collaboration with Roche; and, if such development program is continued, whether we will receive any future milestone payments or royalties from Roche relating to our MAXY-alpha product candidates. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Among other things these risks and uncertainties include, but are not limited to, changing research and business priorities of Maxygen and/or Roche, the inherent uncertainties of pharmaceutical research and drug development, our ability to develop human therapeutic drugs in an increasingly competitive biotechnology industry and the uncer
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