Maxygen is pocketing a $10 million upfront fee from Japan's Astellas for marketing rights to its Maxy-4 therapies--a preclinical program focused on developing a next-generation CTLA4-Ig protein for autoimmune diseases. Astellas will also pay up to $160 million in milestones while Maxygen retains an option on North American co-promotion rights. If Maxygen chooses to take the co-promotion option, the two companies will share profits in place of a royalty payment. Astellas will also foot the first $10 million for certain preclinical development costs and the two companies will split the remaining expenses.
The Maxy-4 proteins in development are intended to reduce T cell activation, reducing the immune response that plays a role in rheumatoid arthritis, transplant rejection and more.
"Our MolecularBreeding platform has yielded promising candidates for the treatment of autoimmune disease and transplant rejection," said Russell Howard, chief executive officer of Maxygen. "Astellas is an excellent partner to help us develop and commercialize this program."
- check out Maxygen's release
- read the AP story