(b) On October 29th, 2009, Dr. Nicholas Galakatos, currently lead director of Affymax, Inc. (the "Company") and Chairman of the Nominating and Governance Committee, informed the Company that he would resign as a director of the Company effective as of December 31, 2009.

(d) On October 29, 2009, the Board of Directors (the "Board") approved the appointment of Hollings C. Renton to the position of Chairman of the Board and the Nominating and Corporate Governance Committee effective as of December 1, 2009 in connection with the resignation of Dr. Nicholas Galakatos. Mr. Hollings was appointed to the Board on June 9, 2009.

A press release announcing Mr. Renton's appointment and Dr. Galakatos' resignation is attached hereto as Exhibit 99.1.

(e) On October 29, 2009, the Board approved an amendment of the Company's 2006 Equity Incentive Plan to increase the non-discretionary non-statutory stock options granted to members of the Board who are not employees of the Company. Each non-employee director joining the Board after the date of this amendment shall be automatically granted a non-statutory stock option to purchase 12,500 shares of common stock with an exercise price equal to the fair market value of our common stock on the date of grant. In addition, on the date of each annual meeting of our stockholders, each non-employee director would receive an automatic grant to purchase 7,500 shares of common stock with an exercise price equal to the fair market value on the date of grant.

In addition, the Board established cash compensation for the position of the non-employee Chairman of the Board to receive an annual retainer of $30,000 for each year of service in such position, in addition to the $40,000 paid annually for service as a Board member.

(d) Exhibits:

Exhibit
No.                                      Description

99.1       Press Release entitled "Affymax Names Hollings C. Renton Chairman of
           the Board of Directors," dated November 3, 2009.