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Maxygen to Present at the BIO CEO & Investor Conference

REDWOOD CITY, Calif., February 08, 2006 /PRNewswire-FirstCall/ -- Maxygen, Inc. today announced that Russell Howard, Ph.D., Maxygen's chief executive officer, will present a corporate overview at the BIO CEO & Investor Conference on Tuesday, February 14th at 12:00 p.m. ET at the Waldorf Astoria Hotel in New York. The presentation will be webcast and can be accessed by visiting the investor relations section of Maxygen's website at

www.maxygen.com.

The presentation will include discussion of non-GAAP financial measures. Reconciliation of the non-GAAP financial measures to the most directly applicable GAAP measures can be found at www.maxygen.com under the "News-Financial Reconciliations" tab.

Maxygen, Inc., headquartered in Redwood City, California, is focused on the development of superior versions of validated major protein pharmaceuticals. Maxygen's technologies bring together advances in molecular biology and protein modification to create novel biotechnology products. The Company has over 120 U.S. and foreign patents relating to its MolecularBreeding directed evolution platform.

CONTACT: Jeannine Medeiros, Investor and Public Relations of Maxygen,Inc., +1-650-298-5853

Web site: http://www.maxygen.com/

Ticker Symbol: (NASDAQ-NMS:MAXY)

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