Published on January 19, 2010 at 6:39 AM
Maxygen, Inc. (Nasdaq:MAXY), a biotechnology company focused on the development of improved protein drugs, today announced that its majority-owned subsidiary, Perseid Therapeutics LLC, achieved a preclinical milestone under its collaboration with Astellas Pharma Inc. to co-develop and commercialize next-generation CTLA4-Ig therapeutics. Perseid has received a $5 million payment from Astellas for achievement of this milestone.
“This milestone represents important progress in our next-generation CTLA-4 program”
“This milestone represents important progress in our next-generation CTLA-4 program,” said Grant Yonehiro, CEO of Perseid. “It exemplifies the outstanding work that has been accomplished by the Perseid-Astellas team. We are pleased to have such a strong collaboration with such an exceptional global partner.”
Source: Maxygen, Inc.