MAXYGEN RECEIVES $5 MILLION FROM ROCHE

A A

Maxygen Inc. said Wednesday that it received a $5 million milestone from Swiss drug maker Roche Holding Ltd. in their collaboration to develop hepatitis treatments. Under a 2003 agreement, Roche licensed global rights to interferon alpha product candidates developed for hepatitis B and C. Maxygen did not specify the exact milestone that triggered the payment. Representatives from Maxygen were not available for immediate comment.

MSN Money (http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20051214&ID=5352838)