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Affymax, Inc. Message Board

  • jstone898 jstone898 Jun 22, 2010 8:56 AM Flag

    AFFY Receives $30 Million Milestone Payments

    PALO ALTO, Calif.--(BUSINESS WIRE)--Affymax, Inc. (Nasdaq:AFFY - News) 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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