Affymax, Takeda To Develop Anemia Drug

Affymax, Inc. and Takeda Pharmaceutical Co. have entered into an exclusive global agreement to develop and commercialize Affymax’s lead product candidate, Hematide, for the treatment of anemia. The companies will collaborate on the development of the product and co-commercialize Hematide in the U.S., while Takeda will hold an exclusive license to develop and commercialize outside the U.S., including the Japanese market.

Under the terms of the agreement, Affymax will receive $105 million in an upfront cash payment and is eligible to receive development and regulatory milestone payments of as much as $280 million, as well as commercial milestone payments upon successful commercialization of as much as $150 million. Takeda will be largely responsible for U.S. development costs. Outside of the U.S., Takeda also will be responsible for all of the development costs for regulatory approvals and will pay Affymax royalties on sales. Affymax is responsible for the manufacture and supply of the drug and Takeda is responsible for the final packaging and global distribution.