Maxygen puts it first drug candidate into human trials  

2006.09.06
The Danish-American biotech firm has begun human trials of Maxy-G34, which is designed to improve the protection of chemotherapy patients against serious infection risks

Danish-American biotechnology company Maxygen has progressed its first candidate drug, Maxy-G34, from laboratory studies to human trials. 8 people have been given the drug, which is designed to stimulate white blood cells so that cancer patients undergoing chemotherapy are better protected against the risk of serious infections.

If Maxygen's drug reaches the market, it will compete with Amgen's USD 2.5 bn money-spinner Neulasta. Analysts reckon that an improved drug will have an annual turnover potential of USD 4 bn, so there is much for Maxygen to go after. But at the same time the firm is carrying a considerable risk, since it will be drawing on its own DKK 1 bn (USD 170 m) cash tank to drive the project all the way to market.

Maxygen's MD Torben Nissen comments: "With our capital resources we can go the whole way under our own steam, and that is our current strategy. At least we are not under pressure to raise capital through an alliance."

In its entirety, Maxygen employs 150 people, with clinical development competencies concentrated in Denmark. The company is headquartered in Redwood City, California. The news was reported by national daily newspaper Berlingske Tidende.

Link > Maxygen 

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