Affymax gets $30 million milestone under Hematide accord with Takeda

23 June 2010

California, USA-based Affymax has received $30 million in development milestone payments from Japan's largest drugmaker, Takeda Pharmaceutical, as part of the companies' exclusive global agreement to develop and commercialize Hematide (peginesatide), the US firm's investigational drug for the treatment of anemia in chronic renal failure patients.

The payments were triggered by the achievement of database lock in the PEARL and EMERALD Phase III clinical trials, which evaluated Hematide to treat anemia in chronic renal failure patients.

Affymax and Takeda are collaborating on the development of Hematide and will co-commercialize the product in the USA upon approval. Takeda holds an exclusive license to develop and commercialize Hematide elsewhere, including Japan.

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