Maxygen extends 'Dutch Auction' tender offer for share repurchase program

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Dec 13 2009

Maxygen, Inc. (Nasdaq: MAXY), a biopharmaceutical company focused on the development of improved versions of protein drugs, today announced that it has extended the expiration date for its modified "Dutch Auction" tender offer to repurchase 6,557,377 shares of its common stock, which was commenced on November 13, 2009.

The tender offer, which was previously scheduled to expire at 12:00 midnight, New York City time, on Friday, December 11, 2009, will be extended until 5:00 p.m., New York City time, on Wednesday, December 23, 2009. The tender offer remains subject to all previously announced terms and conditions.

As of 5:00 p.m., New York City time, on Thursday, December 10, 2009, 687,535 shares of common stock have been tendered pursuant to the offer.

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Maxygen, Inc.

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