AltraVax acquires technology platform for vaccine development

FARGO, N.D. — AltraVax Inc., a new, privately held biopharmaceutical company, has acquired a vaccine development technology package from Maxygen Inc. that gives AltraVax an exclusive license to develop vaccines for infectious diseases and is targeting influenza, a treatment for hepatitis B and HIV.

The agreement gives AltraVax exclusive rights to use Maxygen's proprietary MolecularBreeding technology platform in its infectious disease vaccine development programs. According to the press release dated Feb. 18, the technology can compress vaccine development timelines.

"The proprietary technology licensed from Maxygen will enable AltraVax to develop a new generation of vaccines in a shorter time period and with the promise of better protection," said James Burgum, managing director of Arthur Ventures, which is the lead investor in AltraVax.