Bayer HealthCare and Maxygen Announce Hematology Agreement
News Jul 03, 2008
The lead therapeutic candidate is expected to enter Phase 1 clinical testing in the third quarter of 2008. The total transaction is valued at $90 million upfront with a final, potential milestone payment of $30 million. This agreement includes a license to use Maxygen’s MolecularBreeding™ technology, a research platform, for exploiting gene targets.
MAXY-VII is a next generation Factor VIIa clotting factor that may offer an improved dosing regimen and safety profile. The addition of a development candidate for patients with clotting factor inhibitors could further build Bayer’s leadership position in hemophilia care where it offers the recombinant Factor VIII product, Kogenate® (antihemophilic factor [recombinant]). The company has a strong development program dedicated to hemophilia including ongoing clinical investigations into long-acting forms of Kogenate.
“MAXY-VII has the potential to be an important expansion of therapeutic options for people living with hemophilia and we are pleased to add this to our global development portfolio. The agreement fits into our growth strategy for our specialty pharmaceutical business and builds on our expertise in the commercialization and manufacturing of protein therapeutics,” said Dr. Gunnar Riemann, member of the Executive Committee of Bayer HealthCare.
“Our scientists are actively collaborating with researchers in academia and biotechnology firms to leverage novel research platforms. Access to Maxygen’s MolecularBreeding™ technology provides us with another tool to expand our product pipeline,” Dr. Riemann said.
Bayer also receives a non-exclusive license to use Maxygen’s MolecularBreeding™ technology for a broad set of genes for its internal use in its specialty pharmaceutical business.
In addition, Bayer receives exclusive rights to use the technology for 30 specified gene targets in areas of strategic business interest. This novel platform allows scientists to exploit gene variation that can result in drug targets or novel therapeutic protein candidates.