The companies will collaborate on the development of the product and co-commercialize Hematide in the US, while Takeda will hold an exclusive license to develop and commercialize outside the US.
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 up to $280 million, and commercial milestone payments of up to $150 million.
Hematide, a synthetic, peptide-based erythropoiesis-stimulating agent (ESA), is designed to stimulate the production of red blood cells and is in phase IIb clinical trials for anemia in dialysis, pre-dialysis and cancer chemotherapy patients.
ESAs currently address a $12 billion market worldwide and have been used successfully to manage anemia in patients with chronic kidney disease (CKD) and cancer-related anemia. They reduce the need for blood transfusions and the frequency and severity of anemia-associated morbidity, resulting in an improved quality of life for patients.
“Takeda is an ideal global partner because they have the development experience, global commercial capabilities, and financial resources to assist us in our efforts to bring Hematide to market worldwide. Moreover, they have significantly grown their business in the US,” said Arlene Morris, Affymax' president and CEO.