Perseid Therapeutics to co-develop and commercialize next-generation CTLA4-Ig therapeutics

Jan 19 2010NewsGuard 100/100 Score

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.”

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Maxygen, Inc.

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