Astellas Pharma Signs Exclusive DAX-044 Immuno-Oncology License Deal Worth Up to $1.34 Billion

Astellas Pharma Inc. (4503.T) and Australia's Audax Biosciences Pty Ltd. announced an exclusive option and license agreement for DAX-044, Audax's lead immuno-oncology AVIKINE candidate, in a deal worth up to $1.34 billion. DAX-044 is an investigational IL-12 antibody-cytokine fusion designed with AVIKINE technology, targeting solid tumors. It is currently in IND/CTN-enabling development. Under the terms, Audax will receive upfront and potential option exercise payments totaling $285 million and will continue developing DAX-044 into a Phase 1 study expected to begin in 2027. Audax is also eligible for up to $1.05 billion in development and commercial milestone payments plus tiered double-digit royalties on future worldwide net sales. Astellas holds an exclusive option for a worldwide license to develop, manufacture and commercialize DAX-044. If exercised, Audax retains rights to co-fund and co-promote the candidate in Australia and New Zealand. 4503.T closed Tuesday's trade at 2,518 Japanese Yen and was recently down 0.68% at 2,501 Yen.