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AFFYMAX PARES PARTNERSHIPS FROM SIX TO THREE SINCE JANUARY GLAXO ACQUISITION; GLAXO WELLCOME HAS ACCUMULATED 10 R&D PARTNERSHIPS WITH BIOTECHS

Executive Summary

Affymax's nine-year agreement with American Home Products is the company's largest external R&D partnership to survive the Glaxo acquisition of the research firm. The AHP deal has an "ongoing commitment of research," Affymax CEO Gordon Ringold, PhD, told a Glaxo Wellcome R&D briefing in New York City Nov. 10. Since being acquired by Glaxo earlier this year, the list of outside partners with Affymax has been cut in half. The combinatorial chemistry and screening company had six corporate agreements in place in January.

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