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Maxygen Reports Fourth Quarter and Year End 2007 Financial Results
Date:2/12/2008

pany's lead program, MAXY-G34, is designed to be an improved version of PEG-GCSF for the treatment of neutropenia. MAXY-G34 is currently in Phase II clinical trials. Also in Maxygen's pipeline is a new Factor VIIa product candidate for the treatment of hemophilia and new CTLA4-Ig product candidates for the treatment of rheumatoid arthritis. Maxygen uses its proprietary DNA shuffling technology and extensive protein modification expertise to pursue the creation of biosuperior proteins. 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; our ability or plans to commence or continue the preclinical or clinical development of any of our product candidates, including MAXY-G34 and MAXY-VII, and the timing and status of any such development; the status of the consolidation of our operations and the impact of such consolidation on our cash utilization and financial position; and our liquidity and future financial performance, including the adequacy of our current cash resources and other assets to fund our future operations and/or for future capital requirements. 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, the inherent uncertainties of pharmaceutical research and drug development, our ability to develop human therapeutic drugs in an increasingly competitive biotechnology industry and the uncertain timing of such development, the development of superior products by competitors, and our ability to establish and maintain our research and commercialization collaborations and manufacturing arrangeme
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