Affymax, Inc. (AFFY)

[PETERDENIEL2003]

This would be double digit soon...

As part of the agreement, Takeda paid Affymax upfront license fees of
$122 million and purchased $10 million of equity. Takeda also
committed to up to $355 million in clinical and development milestone
payments across renal and oncology indications. In addition, Takeda
funded the first $50 million of third party expenses related to
clinical development of peginesatide. Subsequent to that, the
agreement calls for Affymax to pay 30 percent and Takeda to pay the
remaining 70 percent of all third-party peginesatide development
expenses. Each company is responsible for their own overhead and
personnel related expenses. Once the product is on the market, the
companies will share profits equally in the United States and Takeda
will pay Affymax royalties based on net sales of peginesatide outside
the United States.

http://www.affymax.com/view.cfm/55/Takeda-Collaboration