Replies to post #80871 on Biotech Values

[microcapfun]

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]

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.