Bayer Expands Hemophilia Portfolio
7/2/2008
Bayer HealthCare aquires hematology development portfolio featuring MAXY-VII from Maxygen
- Phase 1 clinical testing expected to commence in third quarter of 2008
- Transaction includes license to Maxygen's novel biotechnology research platform
Leverkusen / Redwood City, California, USA, July 2, 2008 – Bayer HealthCare is expanding its commitment to hemophilia with the acquisition of Maxygen’s hemophilia program assets, including a next-generation recombinant Factor VIIa protein known as MAXY-VII. The lead therapeutic candidate is expected to enter Phase 1 clinical testing in the third quarter of 2008. The total transaction is valued at US-Dollar 90 million upfront with a final, potential milestone payment of US-Dollar 30 million. This agreement includes a license to use Maxygen’s MolecularBreeding™ technology, a novel research platform, for exploiting gene targets.
Hemophilia is an inherited bleeding disorder caused by deficient or defective blood coagulation proteins.
