Affymetrix licenses Hematide to Takeda

USA-based pharmaceutical firm Affymetrix and Japanese drugmaker Takeda, say they have entered into an agreement to develop and commercialize the former's lead anemia drug candidate Hematide, a synthetic peptide erythropoiesis stimulating agent, in Japan.

Under the terms of the deal, Takeda will pay the Palo Alto, California-headquartered firm $17.0 million in upfront payments, and will also purchase $10.0 million of Affymetrix stock. The US firm is also set to receive regulatory and milestone payments totalling around $75.0 million as the product is developed, and double-digit royalties if it is successfully commercialized in Japan.

The companies added that erythropoiesis stimulating agents such as Hematide have been successfully used to treat anemia in cancer patients, adding that there is currently a $12.0 billion worldwide market for anemia drugs, with the Japanese market worth $1.0 billion a year.