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Biotech / Medical : MAXY - Maxygen, Inc.

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From: tnsaf	11/26/2007 6:01:01 PM
	of 262

[Maxygen Partner Ends Hepatitis C Program] Last nail in this coffin. Maxygen Partner Ends Hepatitis C Program Monday November 26, 9:57 am ET Maxygen's Partner Roche Ends Program on Hepatitis C Drug, Returning Full Rights NEW YORK (AP) -- Roche will end development and return full rights for the hepatitis C drug candidate R7025 to biotechnology company Maxygen Inc. months after placing the program on hold. In September, Roche placed a hold on the program after preliminary observations in the early-stage study revealed a reduction in the drug's effect in patients who had received two doses. The program was fully funded by Roche, and Maxygen did not expect any payments in 2007 or 2008, resulting in no near-term financial effect, the company said. Shares of Redwood City, Calif.-based Maxygen fell 40 cents, or 5.8 percent, to $6.95 in premarket trading.

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