Maxygen, Inc. To Host Second Quarter 2006 Financial Results Conference Call On July 31, 2006

REDWOOD CITY, Calif., July 18 /PRNewswire-FirstCall/ -- Maxygen, Inc. will host a conference call to discuss its second quarter 2006 financial results at 11:30AM ET / 8:30AM PT on Monday, July 31, 2006. Russell Howard, Chief Executive Officer, will host the call. Maxygen will announce its financial results for this period in a press release to be issued before the market opens on the same day.

The conference call may be accessed by dialing 1-800-857-4231 for domestic callers and 1-210-795-2680 for international callers and using the passcode “Maxygen.” Additionally, the conference call will be webcast and may be accessed by visiting the “Investors” section of the Maxygen web site at www.maxygen.com. Following the conference call, an archived version of the webcast will be available on the same web site for approximately 30 days.

The call 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 committed to the discovery, development and commercialization of improved next-generation protein pharmaceuticals for the treatment of disease and serious medical conditions. For additional information on Maxygen, including access to Maxygen’s SEC filings, please visit Maxygen’s website at www.maxygen.com.

Maxygen, Inc.

CONTACT: Jeannine Medeiros, Investor and Public Relations, +1-650-298-5853

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