Maxygen Inc. (MAXY)

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9:02AM Maxygen to receive $30 mln payment from Bayer in connection with recombinant factor VIIa product candidate for the treatment of hemophilia. (MAXY) 5.61 : Co announces that it will receive a $30.0 mln payment from Bayer HealthCare LLC in connection with Bayer's continued clinical development of a recombinant factor VIIa product candidate for the treatment of hemophilia. MAXY sold the recombinant factor VIIa product candidate (previously designated by Maxygen as MAXY-VII) to Bayer, together with its other hematology assets, in July 2008 for an upfront cash payment of $90.0 mln. The additional $30.0 mln contingent payment was based on the further clinical development of the factor VIIa product candidate by Bayer and was also subject to the satisfaction of certain patent related conditions, all of which have been satisfied. MAXY is not eligible for any further payments from Bayer related to these assets.