Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Affymax Gets $50 Mln Milestone Payment For U.S. Approval Of OMONTYS Injection

Affymax, Inc. (AFFY: Quote) said Monday that it has received a $50 million development milestone payment from Takeda Pharmaceutical Co. as part of the companies' exclusive global agreement to develop and commercialize OMONTYS Injection.

The milestone was triggered by the U.S. Food and Drug Administration approval of OMONTYS on March 27.

This is in addition to the $5 million milestone payment the company received from Takeda that was triggered by the European Medicines Agency acceptance of the Marketing Authorization Application in February.

In 2006, Affymax. and Takeda entered into an exclusive global agreement to collaborate on the development and commercialization of OMONTYS. Both companies are working together to co-commercialize OMONTYS in the U.S., while Takeda holds an exclusive license to develop and commercialize the product outside the U.S.

Based on the acceptance of a Marketing Authorization Application (MAA) submitted by Takeda, peginesatide is currently under review by the European Medicines Agency for the treatment of symptomatic anemia associated with chronic kidney disease in adult patients on dialysis.

Takeda and Affymax are exploring options for the commercialization rights for peginesatide in the Japanese market, including potentially licensing to a third party.

Register
To receive FREE breaking news email alerts for Affymax Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Incumbent Colorado Sen. Mark Udall, D-Col., trails his Republican challenger in the latest Quinnipiac University poll, with more than a third of likely voters describing their U.S. Senate vote as a vote against President Barack Obama. A bipartisan coalition in the House voted Wednesday evening to approve a measure providing the U.S. military with the authority to train and arm moderate Syrian rebels against the terrorist group known as the Islamic State. The House voted 273 to 156 in favor of the measure, which was attached to a larger spending bill to temporarily fund the government. After moving mostly higher early in the session, stocks have continued to perform well over the course of the trading day on Thursday. The gains on the day have lifted both the Dow and the S&P 500 to new record intraday highs.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.