Afraxis Grants Exclusive Global License to Genentech

             Afraxis Grants Exclusive Global License to Genentech

PR Newswire

SAN DIEGO, Jan. 29, 2013

SAN DIEGO, Jan. 29, 2013 /PRNewswire/ -- Afraxis, Inc. today announced that it
has entered into a global licensing agreement with Genentech, a member of the
Roche Group (SIX: RO, ROG; OTCQX: RHHBY), to develop compounds for an
undisclosed novel target. Under the terms of the agreement, Genentech will
have exclusive, worldwide rights to develop and commercialize Afraxis'
proprietary compounds. Afraxis is eligible to receive upfront, research,
development and commercialization milestone payments, together totaling up to
$187.5 million. Full financial terms have not been disclosed.

"Afraxis has secured this relationship with Genentech only five years after
founding the company as part of Avalon's life sciences portfolio," said Jay
Lichter, Ph.D., president and CEO of Afraxis, and managing partner of Avalon
Ventures. "Avalon's approach to investing in companies at the earliest stages
and staying actively involved in company management is proving to be a
successful strategy for life science investing."

About Afraxis, Inc.

Afraxis, Inc. is a San Diego-based biotechnology company fully funded by
Avalon Ventures.

For more information visit the Afraxis Web site: www.afraxis.com

SOURCE Afraxis, Inc.

Website: http://www.afraxis.com
Contact: Heidi Chokeir, Ph.D., Canale Communications, +1-619-849-5377,
heidi@canalecomm.com