Astellas secures exclusive option on Audax Biosciences preclinical IL-12 cancer drug

Astellas has taken an exclusive option to license a preclinical immuno-oncology asset from Audax Biosciences, an Australian biotech company.

The asset is an IL-12 based cancer therapeutic that is still in preclinical development. The agreement includes an upfront payment of $285 million.

The deal also provides for additional milestone payments that will become due if the program meets certain development and regulatory targets.