Affymax(R) and Takeda Honored with the Allicense 2007 Breatkthrough Alliance Award for Their Exclusive Global Agreement for Hematide(TM).PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. & OSAKA, Japan -- Affymax, Inc. (Nasdaq: AFFY), a biopharmaceutical company, and Takeda Pharmaceutical Company Takeda Pharmaceutical Company Limited (武田薬品工業株式会社 Limited today announced that they were honored with the Allicense 2007 Breakthrough Alliance Award for their exclusive global agreement to develop and commercialize Hematide[TM], Affymax's lead product candidate, for the treatment of anemia. The award, given for the best and most innovative practices in drafting and negotiating alliances between biotechnology and pharmaceutical companies, is sponsored by Recombinant Capital and was presented at the Allicense 2007 conference in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . "We are pleased to have received this recognition by our peers in the biotechnology and pharmaceutical industry. This award highlights our strategic alliance with Takeda, which will allow us to co-commercialize Hematide upon approval with equal profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , while Takeda commercializes it outside of the United States," said Arlene M. Morris, Affymax's president and chief executive officer. "We are delighted to have received this award recognizing our collaboration with Affymax on such a potentially important product to the worldwide anemia market," said Yasuchika Hasegawa, president, Takeda Pharmaceutical Company Limited. "We look forward to continued progress in the Hematide clinical development program to provide an important new treatment option for patients. Hematide complements Takeda's strategy to grow our core therapeutic franchises with innovative products." Affymax and Takeda are collaborating on the development of Hematide and will co-commercialize the product in the United States. 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 and commercial milestone payments upon successful commercialization of Hematide of up to $150 million. About Hematide Hematide is a novel synthetic, pegylated peptide that binds to and activates the erythropoietin receptor The erythropoietin receptor is a 66 kDa peptide and is a member of the cytokine receptor family. The receptor is tyrosine phosphorylated upon binding by erythropoietin and associates with and activates the tyrosine kinase, JAK2. . The product is being developed for treatment of anemia in chronic kidney disease Chronic kidney disease (CKD), also know as chronic renal disease, is a progressive loss of renal function over a period of months or years through five stages. Each stage is a progression through an abnormally low and progressively worse glomerular filtration rate, which is and cancer. Affymax is preparing for Phase 3 clinical trials phase 3 clinical trial Phase 3 study. See Phase study. in patients on dialysis and in patients not on dialysis and is currently in discussions with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. on the design of this Phase 3 program. About Affymax, Inc. Affymax, Inc. is a biopharmaceutical company developing novel peptide-based drugs to improve the treatment of serious and often life-threatening conditions. Affymax's lead product candidate, Hematide[TM], is currently in Phase 2 clinical trials phase 2 clinical trial Phase 2 study. See Phase study. for the treatment of anemia associated with chronic kidney disease and cancer. For additional information, please visit www.affymax.com. About Takeda Takeda, located in Osaka, Japan, is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products. Additional information about Takeda is available through its corporate website, www.takeda.com. |
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