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news.Maxygen shares have climbed by more than 4% after the company earned a significant milestone in its hepatitis C collaboration with Roche, and announced that it remains on track to file an investigational new drug application next year.
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The collaboration aims to develop improved interferon alpha protein therapeutics to treat hepatitis C virus (HCV) and hepatitis B virus (HBV) infections. Maxygen and Roche are currently completing late stage preclinical studies and Good Manufacturing Practices (GMP) manufacturing and are on track to file an investigational new drug (IND) application in preparation for phase I clinical trials in 2006.
In May 2003, Maxygen established a $230 million strategic alliance with Roche in which the latter licensed worldwide commercialization rights to specific novel interferon product candidates developed by Maxygen for HCV and HBV. The agreement provides for Maxygen to receive development funding, milestone payments and royalties on sales of any product resulting from the collaboration.
The alliance also provides the companies with the option to expand the collaboration to develop other novel interferon alpha products specifically tailored for indications outside of HCV and HBV, including oncology, autoimmune diseases, inflammatory diseases, and other infectious diseases such as HIV.