REDWOOD CITY, Calif., May 16 /PRNewswire-FirstCall/ -- Maxygen, Inc. , a biotechnology company focused on the development of improved protein drugs, today announced that it has filed a universal shelf registration statement with the Securities and Exchange Commission (SEC).
Upon being declared effective by the SEC, the registration statement will allow Maxygen to offer and sell, from time to time, in one or more offerings, shares of its common stock, shares of its preferred stock, debt securities, warrants, or any combination of such securities, for proceeds in the aggregate amount up to $150 million. The terms of any such future offering will be established at the time of the offering. Proceeds from the sale of any securities will be used for the purposes described in the prospectus or a prospectus supplement filed at the time of an offering. Maxygen has no immediate plans to offer or sell any securities under the registration statement.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Maxygen
Maxygen is a biopharmaceutical company focused on developing improved versions of protein drugs. We look for opportunities where our proprietary protein modification technologies can address significant therapeutic needs. Products developed by Maxygen now in clinical trials include a novel interferon-alpha for the treatment of hepatitis C virus (HCV) infection and a novel G-CSF for the treatment of neutropenia. Maxygen's approach may allow us to leverage the established development and regulatory paths of approved drugs. We believe this advantage translates to a greater chance of successfully bringing important new drugs to market. http://www.maxygen.com/
Forward-Looking Statements
This news release contains forward-looking statements about our research and business prospects, including those relating to our ability to develop any human therapeutic products suitable for commercialization; our ability or plans, or the plans of our collaborators, to commence or continue the preclinical or clinical development of any of our product candidates; and our financing plans. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Among other things these risks and uncertainties include, but are not limited to, changing research and business priorities of Maxygen and/or its collaborators and the inherent uncertainties of pharmaceutical research and drug development. These and other risk factors are more fully discussed in our Form 10-K for the year ended December 31, 2006, including under the caption "Risk Factors", and in our other periodic SEC reports, all of which are available from Maxygen at http://www.maxygen.com/. Maxygen disclaims any obligation to update or revise any forward-looking statement contained in this release as a result of new information or future events or developments.
