Maxygen in Three-Year Vaccine Pact with Aventis Pasteur

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received a three-year contract to develop vaccines for Aventis Pasteur.

Under the pact, Maxygen will receives license fees, research and development funding, annual royalty payments, and potential milestone payments on product sales. Aventis Pasteur gets the exclusive worldwide right to commercialize developed vaccines, which Maxygen said are for "a specific undisclosed target."

Maxygen said the deal is its third big pharmaceutical partnership of the year.