FTC OKs $76M Astellas-Maxygen Protein Program Deal

Law360, New York (March 29, 2011, 2:01 PM EDT) -- The Federal Trade Commission granted an early termination on Monday to the 30-day waiting period before Astellas Pharma Inc. can complete its $76 million purchase of all of Maxygen Inc.’s equity interest in its protein drug subsidiary Perseid Therapeutics LLC.

The purchase has been in the works since at least June 2009 when Maxygen and Astellas entered into a joint venture whereby Maxygen would transfer all of its protein pharmaceutical programs, assets and researchers to Perseid and granted Astellas an option to acquire the subsidiary at...
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