Japanese pharma concern Astellas Pharma has formed a joint venture with US biopharma firm Maxygen to develop multiple protein ph

Japanese pharma concern Astellas Pharma has formed a joint venture with US biopharma firm Maxygen to develop multiple protein pharmaceutical programmes, including Maxygen's MAXY-4, for the treatment of autoimmune diseases and transplant rejection. In additional to contributing its technology assets and discovery programmes in protein pharmaceuticals, Maxygen wig invest $10m for an 83% homing in the joint venture. Astellas will also invest $10m, for the remaining 17% share of the company, and fund all the costs, estimated at up to $30m over three years, but will have the option to acquire all of Maxygen's ownership interest in the joint venture within three years of its establishment.

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