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Maxygen Announces Management Changes
Date:3/4/2008

REDWOOD CITY, Calif., March 4 /PRNewswire-FirstCall/ -- Maxygen, Inc. (Nasdaq: MAXY), a biotechnology company focused on the development of improved protein drugs, today announced changes to its management team. Grant Yonehiro, Maxygen's senior vice president in charge of global business development and U.S. operations, has been appointed to the position of chief business officer. In addition, the company announced the pending departure of Michael Rabson, Maxygen's general counsel since 1999, to pursue another career opportunity. Maxygen's in-house legal team will be reorganized to assume Dr. Rabson's responsibilities.

Mr. Yonehiro joined Maxygen in May 2003 as vice president of business development; his role was later expanded to include responsibility for managing the company's U.S. operations. During his tenure at Maxygen, Mr. Yonehiro established business collaborations with Roche and Sanofi-Pasteur, and has driven contract relationships with third parties such as the Department of Defense and National Institutes of Health.

"Over the past several years Grant has landed some key partnerships and agreements for Maxygen, while also managing our U.S. operations," said Dr. Howard. "With our worldwide operations now consolidated here in Redwood City under Elliot Goldstein, our chief operating officer, Grant can now intensify business development activity, which is critical to our long-term success."

Upon Dr. Rabson's departure, Maxygen's in-house legal team will be reorganized to assume his responsibilities. Norman Kruse, Maxygen's vice president of intellectual property and chief patent counsel, will continue leading Maxygen's intellectual property team and will now be responsible for providing strategic intellectual p
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