Maxygen achieves $5 million milestone payment from Roche

By Elaine Rigoli

Tampa, Fla., May 9 - Maxygen, Inc. has achieved a $5 million preclinical milestone in its alliance with Roche to co-develop next-generation factor VIIa therapeutics. Maxygen has achieved the milestone for development of a manufacturing process for its factor VIIa product candidates.

In December, Maxygen and Roche established an agreement to co-develop and commercialize next-generation factor VIIa products for multiple indications of severe bleeding, including trauma and intracerebral hemorrhage. Under the agreement, Roche and Maxygen agreed to share worldwide research and development costs for the creation of next-generation factor VIIa product candidates.

Maxygen is leading early stage clinical development, and Roche will lead late-stage clinical development, according to a news release.

Roche will have exclusive worldwide rights to commercialize the next-generation recombinant factor VIIa products for acute indications, the release said.

Including an upfront fee, total event payments to Maxygen could total $95 million. In addition, Maxygen is also eligible to receive royalties on product sales.

Maxygen has retained all rights for development and commercialization of its next-generation recombinant factor VIIa product candidates for hemophilia, the release said.

Maxygen also announced that it has entered into an agreement with Rentschler Biotechnologie GmbH for the manufacture of the clinical supply of its next-generation factor VIIa protein therapeutics and has initiated technology transfer to Rentschler.

Maxygen, based in Redwood City, Calif., develops protein pharmaceuticals for the treatment of disease and serious medical conditions.

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