Takeda licenses Hematide in $535M deal

Japan's Takeda has agreed to pay Palo Alto, CA-based Affymax up to $535 million for the worldwide rights--excluding Japan--to Hematide. The therapy is used to treat anemia in cancer and kidney disease patients, a booming field in biologics. Affymax will net $105 million of that up front with commercial and regulatory milestones to run up to $430 million. Takeda had already licensed Hematide for Japan back in February. Affymax has co-development rights for the U.S. market and Takeda--which has inked a string of bullish licensing deals--will cover most of the costs. And Affymax will manufacture the drug.

"Takeda is an ideal global partner because they have the development experience, global commercial capabilities, and financial resources to assist us in our efforts to bring Hematide to market worldwide. Moreover, they have significantly grown their business in the U.S.," said Arlene M. Morris, Affymax's president and CEO.

- here's the release on Hematide