Perseid Achieves Astellas Milestone

Maxygen, Inc.’s majority-owned subsidiary, Perseid Therapeutics LLC, has achieved a preclinical milestone under its collaboration with Astellas Pharma, triggering a $5 million payment to Perseid. The goal of the collaboration is to co-develop and commercialize next-gen CTLA4-Ig therapeutics.

“This milestone represents important progress in our next-generation CTLA-4 program,” said Grant Yonehiro, chief executive officer of Perseid. “It exemplifies the outstanding work that has been accomplished by the Perseid-Astellas team. We are pleased to have such a strong collaboration with such an exceptional global partner.”