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Business
Maxygen Moves To Liquidate Itself
by Ann M. Thayer
June 10, 2013
| A version of this story appeared in
Volume 91, Issue 23
Maxygen, a California-based protein pharmaceuticals firm, plans to cease operations. If shareholders approve the plan, Maxygen will divide about $68 million, or $2.45 per share, among them. Since December 2009, the company has distributed about $320 million in cash and property to shareholders after selling a recombinant Factor VIIa agent to Bayer HealthCare and its holdings in the spin-off businesses Perseid Therapeutics and Codexis. Maxygen has struggled to advance its last product candidate, MAXY-G34, a PEGylated granulocyte-colony-stimulating factor for treating chemotherapy-induced neutropenia and acute radiation syndrome.
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