Wednesday September 5, 6:00 am Eastern Time
Press Release
SOURCE: Maxygen, Inc.
InterMune and Maxygen Form Collaboration to Develop Next-Generation Interferon Gamma Products
REDWOOD CITY, Calif. and BRISBANE, Calif., Sept. 5 /PRNewswire/ -- Maxygen Holdings Ltd., a wholly owned subsidiary of Maxygen, Inc. (Nasdaq: MAXY - news), and InterMune, Inc. (Nasdaq: ITMN - news) today announced the signing of a license and collaboration agreement to develop and commercialize novel, next-generation interferon gamma products.
Under the terms of the agreement, InterMune will take forward into clinical development product candidates created by Maxygen. InterMune will fund optimization and development of the next-generation interferon gamma products, and will retain exclusive worldwide commercialization rights for all human therapeutic indications. Maxygen will receive up-front license fees, full research funding, and development and commercialization milestone payments. Payments to Maxygen could exceed $60 million. In addition, Maxygen will receive royalties on product sales.
``This collaboration with Maxygen reflects our commitment to maintaining our leadership position relating to interferon gamma therapy,'' said W. Scott Harkonen, M.D., President and CEO of InterMune. ``We strongly believe in the broad therapeutic potential of interferon gamma and plan to capitalize on future market opportunities with a next-generation product. Maxygen's powerful protein modification and preclinical process development expertise combined with InterMune's clinical development and commercialization capabilities, will be the foundation for a great partnership. Our goal is to put a next-generation product into the clinic, with enhanced pharmacokinetics and a less-frequent dosing regimen, within the next two to three years.''
``We are delighted to form this relationship with InterMune, which represents Maxygen's fourth strategic alliance in the area of human therapeutics,'' said Russell J. Howard, Ph.D., Chief Executive Officer of Maxygen. ``InterMune is the world's leader in interferon gamma therapeutics. The team has a broad experience base, excellent clinical development capabilities and a strong marketing and sales focus, making InterMune the optimal partner for taking our interferon gamma product to the market.''
Actimmune® (Interferon gamma-1b), is marketed by InterMune in the United States for the treatment of chronic granulomatous disease (CGD) and severe, malignant osteopetrosis. InterMune is continuing the development of Actimmune® by conducting several advanced stage clinical trials, including a Phase III trial for the treatment of idiopathic pulmonary fibrosis (IPF) and is planning a Phase III trial for ovarian cancer.
Maxygen, Inc. headquartered in Redwood City, California, is focused on creating novel products using its integrated proprietary technologies for human therapeutics and industrial applications. Maxygen's technologies bring together advances in molecular biology and protein modification to create novel biotechnology products. Maxygen has strategic collaborations with leading companies including Lundbeck in central nervous system diseases and multiple sclerosis; ALK-Abello in allergy; the International AIDS Vaccine Initiative (IAVI) in HIV; Pfizer and DSM in pharmaceutical manufacturing; and Shearwater Corporation in protein pharmaceutical PEGylation technologies. Additionally, Maxygen has a range of other strategic alliances in industrial applications, as well as funding from U.S.A. government organizations DARPA and NIST-ATP. Maxygen currently has a pipeline of over 40 potential products, including eight in development, and has a total of 18 strategic alliances.
InterMune is developing and commercializing innovative products for the treatment of serious pulmonary and infectious diseases and cancer. InterMune markets its lead product, Actimmune®, for the treatment of chronic granulomatous disease (CGD) and severe, malignant osteopetrosis. InterMune is currently conducting a Phase III clinical trial with Actimmune® for the treatment of idiopathic pulmonary fibrosis (IPF). InterMune is also conducting or planning clinical trials of Actimmune® for the treatment of multidrug-resistant tuberculosis (MDR TB), atypical mycobacterial infections, ovarian cancer, cryptococcal meningitis, cystic fibrosis, liver fibrosis and non-Hodgkin's lymphoma. InterMune recently acquired rights to Infergen®, which is marketed in the United States and Canada for the treatment of chronic hepatitis C infections. InterMune also markets Amphotec® worldwide for the treatment of invasive aspergillosis. |
