logo
Share SHARE
FONT-SIZE Plus   Neg

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

Affymax, Inc. (AFFY) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Zynga Inc. (ZNGA) on Thursday reported a first-quarter loss that narrowed from a year ago, reflecting an increase in revenues despite continued drop in user-base. Earnings for the quarter trumped analysts estimates, as did revenues, sending the company's shares up 13 percent in extended trading hours. San... Shares of Fitbit Inc. (FIT) slumped over 12 percent in extended hours trading after the maker of wearable technology reported a drop in first-quarter profit hurt largely by a surge in operating costs. The company also detailed a weak outlook for the second quarter. Fitbit's profit for the first-quarter... Twenty-First Century Fox Inc., (FOXA, FOX) on Wednesday reported a third-quarter profit that dropped from last year, as an increase in revenues were offset by higher operating costs. Earnings for the quarter came in line with Wall Street estimates, while revenues trumped expectations. Fox's third-quarter...
comments powered by Disqus
Follow RTT