Affymax Takeda Collaboration and License Agreement

Phase 2b for anemia in dialysis, pre-dialysis and cancer chemotherapy patients

Structure:

• Co-commercialize with equal profit sharing in the US
• Takeda commercializes outside the US
• Affymax supplies drug substance

Financial:

• Affymax to receive M$105 upfront
• development and regulatory milestones to M$280
• commercial milestones to M$150
• jointly responsible for U.S. development costs; majority borne by Takeda
• outside US, Takeda bears development costs and pays a royalty on sales