Affymax Affirms Progress with Takeda Collaboration
"Our partnership is unrelated to Takeda's recently announced agreement with Amgen for its Japanese subsidiary, which does not include Erythropoiesis-Stimulating Agents (ESAs)," said Arlene M. Morris, Affymax's president and chief executive officer."
Affymax and Takeda are collaborating on the development of Hematide and will co-commercialize the product in the United States. Affymax is conducting Phase 3 clinical trials for Hematide to treat anemia in chronic renal failure indications and Takeda is focused on the recently initiated Phase 1 clinical trial to evaluate Hematide to treat chemotherapy-induced anemia in prostate, breast and non-small cell lung cancer patients. 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 has 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 across indications and commercial milestone payments upon successful commercialization of Hematide of up to $150 million.
About Affymax, Inc.
Affymax, Inc. is a biopharmaceutical company developing novel drugs to improve the treatment of serious and often life-threatening conditions. Affymax's lead product candidate, Hematide(TM), is currently in Phase 3 clinical trials for the treatment of anemia associated with chronic renal failure and in a Phase 1 clinical trial for the treatment of anemia in cancer patients. For additional information, please visit www.affymax.com.
This release contains forward-looking statements, including statements regarding the success of the collaboration, timing, design and results of the Company's clinical trials and drug development program and the timing and likelihood of the commercialization of Hematide. The Company's actual results may differ materially from those indicated in these forward-looking statements due to risks and uncertainties, including risks relating to the continued safety and efficacy of Hematide in clinical development, the potential for once per month dosing, the timing of patient accrual in ongoing and planned clinical studies, regulatory requirements and approvals, research and development efforts, industry and competitive environment, intellectual property rights and disputes and other matters that are described in Affymax's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statement in this press release.
Contact
Affymax, Inc.
Sylvia Wheeler, 650-812-8861
Executive Director, Corporate Communications
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