Affymax's database lock achievement in Phase 3 Hematide trial triggers $30M milestone payment from Takeda

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Jun 22 2010Affymax, Inc

Affymax, Inc. (Nasdaq:AFFY) today announced that it has received $30 million in development milestone payments from Takeda Pharmaceutical Company as part of the companies' exclusive global agreement to develop and commercialize Hematide™/peginesatide, Affymax'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 3 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 United States upon approval. Takeda holds an exclusive license to develop and commercialize Hematide outside the United States, including Japan.

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Affymax, Inc

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