ARTICLE | Company News

Astellas accesses Maxygen's MAXY-4 program

September 20, 2008 2:05 AM UTC

Maxygen (NASDAQ:MAXY) and Astellas (Tokyo:4503) will co-develop preclinical candidates in the biotech's MAXY-4 program of second-generation CTLA4-Ig fusion proteins to treat rheumatoid arthritis (RA) and other autoimmune diseases. Astellas also received exclusive, worldwide rights to develop and market the candidates to treat transplant rejection. Maxygen will receive $10 million up front and is eligible for up to $160 million in milestones, plus tiered double-digit royalties. In North America, Maxygen has an option to co-promote autoimmune products and share in profits.

Astellas will provide $10 million to cover preclinical development costs for MAXY-4 candidates for all indications, after which the partners will share costs for autoimmune indications in North America and Europe. Astellas is responsible for development costs in autoimmune indications outside these regions and for global development costs in the transplant rejection indication. ...