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Biotechnology firm Maxygen said a unit of Germany's Bayer AG agreed to buy its hemophilia program for $120 million, including a potential milestone payment of $30 million.The assets include Maxygen's drug candidate, MAXY-VII, to treat the blood-clotting disorder hemophilia. MAXY-VII is expected to enter early-stage trials in the third quarter of 2008, the company said in a statement.
The deal includes a license to use Maxygen's MolecularBreeding technology, used to target genes. (Reuters)