Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : MAXY - Maxygen, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Platter who wrote (35)	9/15/2000 9:04:27 AM
From: nigel bates	Read Replies (1) \| Respond to of 262

Sept. 15 /PRNewswire/ -- Maxygen ApS, a wholly owned subsidiary of Maxygen, Inc. (Nasdaq: MAXY - news), and Shearwater Polymers, Inc. (``Shearwater'') today announced a broad strategic alliance in the area of protein pharmaceuticals. The collaboration will provide Maxygen with access to Shearwater's proprietary PEGylation chemistries for use with multiple therapeutic protein products in Maxygen's research pipeline. The agreement provides Shearwater with license fees, royalties and exclusive rights to supply the PEG (polyethylene glycol) reagents. Maxygen is the leader in the optimization of proteins using its proprietary directed evolution technologies. The Company is currently working on a portfolio of ten novel and second-generation protein pharmaceutical product candidates. ``Shearwater is a pioneer and world-leader in the development and cGMP manufacturing of activated PEG derivatives for coupling with proteins. PEGylated therapeutic proteins have multiple benefits including improved pharmacokinetics and reduced immunogenicity and antigenicity, which are among the key desired attributes of second-generation protein drugs,'' said Jan Mikkelsen, co-President of Protein Pharmaceuticals at Maxygen. ``We believe Shearwater's capabilities and proprietary PEGylation technologies together with Maxygen's proprietary directed molecular evolution technologies, leadership and expertise in protein optimization and preclinical development will help us to more rapidly develop novel and improved protein pharmaceuticals.'' Steve Charles, Ph.D., Shearwater's Vice President of Corporate Development, commented, ``We are very pleased to have the opportunity to work with Maxygen. Directed evolution of proteins has incredible potential, and Maxygen is ideally positioned to realize this potential, given its leading position in the field and the first class team that it has assembled. We believe that proteins with improved intrinsic properties, coupled with the clinically proven benefits of Shearwater's PEGylation technologies, provide a winning combination.'' Founded in 1992 and located in Huntsville, Alabama, Shearwater is a research-based drug delivery and cGMP manufacturing company focusing on healthcare applications of PEG. Currently, Shearwater's corporate partners have nine PEG products utilizing Shearwater's proprietary technology in 14 clinical trials. Three of these nine products have now finished Phase III clinical trials and are in the pre-marketing approval stage, and one has been approved by the FDA. Shearwater offers its partners a unique, ``one-stop-shop'' service for their PEGylation requirements. The service includes basic research, optimization of the PEG-product, full-scale cGMP manufacturing and a full regulatory package, including the Drug Master File.