Maxygen Announces Advancement of Improved Interferon Beta for Multiple Sclerosis

25-Feb-2002
February 21, 2002 Maxygen, Inc. today announced that the product under the scope of its collaboration with H. Lundbeck A/S is an optimized interferon beta, and that the companies intend to move this lead compound forward rapidly into human clinical trials. Lundbeck in-licensed the rights to develop and commercialize the multiple sclerosis and central nervous system indications of Maxygen’s interferon beta in September 2000. The lead compound has been engineered by Maxygen to have an improved drug profile for therapy, with reduced immunogenicity, increased bioavailability and substantially improved half life, to minimize side effects and maximize therapeutic efficacy. The estimated worldwide market for interferon beta in multiple sclerosis is currently $1.5 billion, and is expected to grow to $3 billion within the next five to 10 years. Multiple sclerosis is a disease of the central nervous system affecting the brain and spinal cord. It is estimated to affect up to 1 million people worldwide. Effects of multiple sclerosis are debilitating, and include loss of motor coordination, weakness or paralysis of limbs, psychological and cognitive disorders, numbness, and vision and speech impairment. "We are delighted that Lundbeck has chosen to move Maxygen’s next-generation compound aggressively towards the clinic," said Jan Møller Mikkelsen, President of Maxygen’s protein pharmaceutical business unit. "Lundbeck is one of the fastest growing companies in the area of psychiatric and neurological disorders, and it is clearly committed to an improved therapy for multiple sclerosis." "The interferon beta program is testament to Maxygen’s capabilities of rapidly translating its integrated technology platform into pharmaceutical product candidates," said Dr. Claus Braestrup, Executive Vice President of Research and Development at Lundbeck. We have enjoyed the close collaboration with Maxygen, and have benefited by Maxygen’s expertise in protein drug design, formulation, and preclinical development."

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