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March 14, 2007

Roche Opts Out of Deal with Maxygen

  • Roche has terminated its co-development and commercialization agreement with Maxygen related to Maxygen's candidate for acute bleeding indications.

    Roche indicated that it was ending the deal based on the inability of the parties to establish an animal model intended to provide preclinical de-risking of the program.

    Under the terms of the initial agreement, Roche and Maxygen were pursuing the development and commercialization of MAXY-VII, a next-generation Factor VII. Upon termination of the agreement, all rights to the product candidates revert back to Maxygen.

    "We are disappointed with Roche's decision to terminate their involvement in the Factor VII program" comments Russell Howard, Maxygen's CEO. "Treatment options for acute bleeding conditions, such as trauma, are clearly needed. We plan to evaluate the situation carefully before determining the next steps for our MAXY-VII program."