Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
May 8, 2009

Cangene Buys Exclusive Option for Acute Radiation Syndrome Drug for $500K from Maxygen

Cangene Buys Exclusive Option for Acute Radiation Syndrome Drug for $500K from Maxygen

Cangen buys ARS drug from Maxygen for $500K

  • Maxygen sold an option for the exclusive license of its MAXY-G34 protein therapeutic for acute radiation syndrome (ARS) to Cangene for $500,000. If Cangene is able to obtain a government development contract for this indication, it will pay Maxygen an initial licensing fee and a percentage of its net government contract revenues. Additional licenses may be purchased for subsequent government contracts related to treatment or prevention of ARS-associated neutropenia .

    Cangene may also purchase both licenses with a one-time $30 million fee. Rights would expire two years after acquiring the initial license. Separately, Cangene submitted a bid to BARDA specifying the development of MAXY-G34 in ARS. Maxygen retains all rights to Maxy-G34 for commercial development in non-ARS therapeutic areas.

    "We believe MAXY-G34 is particularly attractive for the ARS application as a potent, safe and long acting drug that can rapidly increase neutrophil levels," comments Russell Howard, CEO of Maxygen. "In the recently completed Phase IIa study in breast cancer patients with chemotherapy-induced neutropenia, MAXY-G34 was shown to be safe, effective, and have a prolonged plasma half-life compared to Neulast."


    Related News

    Maxygen to Delay Development of Lead Program and Cut 30% of Jobs (Oct. 23, 2008)
    Astellas Pays Maxygen $10M Upfront for License to Preclinical Candidates for Autoimmune Disease (Sep. 19, 2008)
    Maxygen Wins $3.4M Award for Vaccine Development (Aug. 27, 2008)
    Bayer Pays $90M for Maxygen’s Preclinical Hemophilia Program (July 2, 2008)
    Sanofi Pasteur Gains Rights to Maxygen’s Dengue Vaccine Program in Deal Worth $24.5M (Dec. 4, 2007)


Related content

Be sure to take the GEN Poll

Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

More »