PALO ALTO, CA — Earlier on Wednesday, Affymax Inc. announced that it received a milestone payment of a whopping $10 million from partner Takeda Pharmaceutical Co. The payment resulted from the FDA approval of an application for peginesatide, a potential treatment for anemia.
Previously known as Hematide, peginesatide is used for the treatment of anemic patients with chronic kidney failure, and is being jointly developed by the companies, said Palo Alto, CA-based Affymax. If approved, the companies are expected to co-market the drug in US, and Japan-based Takeda will market the drug outside the US.
On an average, FDA reviews take 10 months, and the companies say that they have asked the FDA in May to approve the drug.