Singapore, Mar 12, 2010: American pharma company Affymax has received a $5 million development milestone payment from Japan's Takeda Pharmaceutical.

The payment is part of exclusive global agreement between the companies to develop and commercialize Hematide, Affymax's investigational drug for the treatment of anemia in chronic renal failure patients. The milestone was achieved with the initiation of phase III clinical testing of Hematide to treat anemia in chronic renal failure patients in Japan.

Affymax and Takeda are collaborating on the development of Hematide and will co-commercialize the product in the United States. Takeda holds an exclusive license to develop and commercialize Hematide outside the United States, including Japan.