Perseid Achieves Preclinical Milestone Under Collaboration with Astellas Pharma Inc. for CTLA-4 Program

1/19/2010 10:06:02 AM

REDWOOD CITY, Calif.--(BUSINESS WIRE)--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.

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