Affymax, Takeda Develop And Commercialize Hematide For Anemia
Affymax, Takeda Pharmaceutical have been awarded for their innovative global agreement to develop and commercialize Affymax's lead product candidate, Hematide, for the treatment of anemia. The Affymax and Takeda collaboration was recognized by the LES as one of the most notable deals in the healthcare industry sector in the last year.
The 2007 Deal of Distinction Award recognizes worthy transactions involving the transfer and licensing of intellectual property using creative and innovative solutions to business issues. This year, the award was given to parties of only five deals.
"We are pleased to have received this award, which recognizes our strategic alliance with Takeda to develop Hematide worldwide as a potential treatment for anemia associated with chronic renal failure and cancer," said Arlene M. Morris, Affymax's president and chief executive officer. "Affymax and Takeda have made significant progress in the Hematide clinical development program. We recently initiated a Phase 3 clinical program for Hematide, and we look forward to continuing our progress to develop a new treatment option that addresses anemia in chronic renal failure patients."
"We are very pleased that Takeda's partnership with Affymax for Hematide is being recognized by esteemed licensing professionals," said Yasuchika Hasegawa, president, Takeda Pharmaceutical Company Limited. "The collaboration on this potential new entrant to the worldwide anemia market represents an important component of our global growth strategy. We look forward to continued progress in the Hematide clinical development program."
Affymax and Takeda are collaborating on the development of Hematide and will co-commercialize the product in the United States. Takeda has been granted an exclusive, royalty-bearing license to develop and commercialize Hematide outside the United States, including Japan. Under the terms of the collaboration, Affymax received $132 million in upfront and milestone payments and $10 million from the sale of equity. Affymax is eligible to receive development and regulatory milestone payments of up to an additional $345 million and commercial milestone payments upon successful commercialization of Hematide of up to $150 million.
Hematide is a novel synthetic, pegylated peptidic compound that binds to and activates the erythropoietin receptor and thus acts as an erythropoiesis stimulating agent. The investigational product is being developed for the treatment of anemia in patients with chronic renal failure (CRF) and cancer patients receiving chemotherapy.