AltraVax, Inc., a new, privately-held biopharmaceutical company, has acquired a vaccine development technology package from Maxygen, Inc. (Nasdaq: MAXY) that gives AltraVax an exclusive license to develop vaccines for infectious diseases and is targeting influenza, a treatment for hepatitis B and HIV.
“AltraVax plans to focus on key disease targets and to use the MolecularBreeding™ technology platform as part of a number of laboratory tools to accelerate vaccine development”
Under the terms of the licensing agreement, AltraVax has exclusive rights to use Maxygen’s proprietary MolecularBreeding™ technology platform in its infectious disease vaccine development programs, subject to rights retained by Maxygen. The technology can significantly compress vaccine development timelines, leading to new vaccine possibilities that have the potential to improve and protect human health globally.
Arthur Ventures Growth Fund, LLC is the lead investor in AltraVax. “We’re excited to be a part of something that can have such a tremendous impact,” said James Burgum, managing director of Arthur Ventures. “The proprietary technology licensed from Maxygen will enable AltraVax to develop a new generation of vaccines in a shorter time period and with the promise of better protection.”