Affymax, Inc. announced that effective June 6, 2013, Herb Cross was terminated as Chief Financial Officer and an employee of the company. The company concurrently appointed Rich Brenner of The Brenner Group as Chief Executive Officer, Weston Rose of TBG to serve as President and Mark Thompson of TBG to serve as Chief Financial Officer of the company during the continuing restructuring of the company. On June 4 and June 5, Ted W. Love, M.D., Kathleen LaPorte and Keith R. Leonard, Jr. notified the Company of their resignation as directors of the Company.

Each of the Resigning Directors' decision to resign was not a result of any disagreement or dispute with the Company or its management. On June 6, John Orwin was named Chairman of the Board, succeeding Hollings Renton, who remains a member of the Board, but who has stepped down from the Chairman role. In addition, Richard M. Brenner of TBG was appointed to the Board.