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Replies to #80871 on Biotech Values

microcapfun

07/15/09 9:29 AM

#80872 RE: rkrw #80871

No MAXY drug reached Phase 2?

>>I had forgot about maxy-alpha getting into p1. This is their only internally invented maxy shuffled compound to have entered the clinic. Study halted early in phase 1a, placed on hold.<<

From what I can see, MAXY-G34 was internally developed by Maxygen.

>>We recently completed a Phase IIa clinical trial of MAXY-G34 in breast cancer patients in Eastern Europe.<<
http://www.sec.gov/Archives/edgar/data/1068796/000119312509051052/d10k.htm
http://www.drugs.com/clinical_trials/maxygen-announces-positive-results-maxy-g34-phase-iia-study-breast-cancer-patients-7721.html

>>I guess if they had it over again they would have spun off the therapeutic arm and kept Codexis and everything else.<<

Yeah. At the time, I felt they were spinning off the most promising parts of their business and that going into drup development was an expensive mistake designed to feed the WS machine.

micro

DewDiligence

10/28/10 9:07 PM

#107464 RE: rkrw #80871

CDXS buys MAXY’s molecular breeding platform for $20M:

http://finance.yahoo.com/news/Maxygen-Announces-Sale-of-bw-4092978.html?x=0&.v=1

In a 2009 discussion on this board, you, microcapfun, and I wondered how much MAXY’s gene-shuffling technology was worth.

The answer, evidently, is not much—the effective price of today’s deal is even less than $20M because CDXS’ royalty obligations to MAXY have now been canceled.