Article: GSK Spin-Off Affymax Generates $20M In Private Financing Round.

Staff Writer

Affymax Inc. closed a $20 million private round of financing that coincided with the drug discovery and development firm's appointment of a new chief executive.

"Its pipeline of clinical candidates have been identified and continue to move forward," Lori Rafield, a board member at Affymax and a general partner at lead investor Apax Partners & Co., told BioWorld Today. "Combining that with [new President and CEO] Arlene Morris joining, and to us it was an outstanding investment opportunity."

The Palo Alto, Calif.-based company said the funding would last more than two years, providing enough cushion to support plans to push its ...

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