PALO ALTO, Calif. (AP) — Affymax Inc. received a $10 million milestone payment from partner Takeda Pharmaceutical Co., the company said Wednesday, after federal regulators accepted an application for the potential anemia treatment peginesatide.
Affymax, based in Palo Alto, Calif., said the companies are developing peginesatide, formerly known as Hematide, to treat anemia in patients with chronic kidney failure. The companies plan to co-market the drug in the United States if it receives approval. Takeda, which is based in Japan, will sell the drug outside the United States.
The companies said in May they asked the U.S. Food and Drug Administration to approve the drug. FDA reviews typically take 10 months.