Affymax Inc. said Monday it is expected to received a $5 million development milestone payment from Takeda Pharmaceutical Co.
The Palo Alto-based biopharmaceutical company (NASDAQ:AFFY) said the payment comes as a result of a global agreement between the two companies to develop and commercialize peginesatide — a drug aimed at treating anemia in dialysis patients with chronic kidney disease. It is being co-developed by the two companies.
The payment comes as a result of the European Medicines Agency accepting the Marketing Authorization Application for peginesatide.
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