Affymax, once a promising biotech, is dissolving

Affymax, which 18 months ago appeared poised for big things, is dissolving the company and will pay shareholders pennies for the shares that traded at $27 a share before patient deaths led it to pull its Omontys anemia drug from the market. The news comes two weeks after Affymax and Japan's Takeda, its partner on Omontys, announced they would dissolve their licensing agreement in September. Takeda said that an extensive investigation found no quality or manufacturing issues for the treatment used during dialysis but neither could it find the root cause of serious hypersensitivity reactions in some patients. Story