Astellas signs up to $1.34 billion option deal for Audax's DAX-044 immuno-oncology candidate

Astellas Pharma announced it will pay up to $1.34 billion for an exclusive option to license Audax Biosciences' investigational antibody-cytokine fusion, DAX-044.

The agreement includes an undisclosed upfront payment and a potential $285 million option exercise fee if Astellas decides to move the candidate forward for solid-tumor indications.

Audax could also earn up to $1.05 billion in development and commercial milestones and will receive tiered double-digit royalties on worldwide net sales.

The asset is designed to concentrate IL-12 activity at the tumor site, aiming to reduce systemic toxicities associated with IL-12 therapies, according to the companies' release.

Audax will continue to fund the program while preparing for a regulatory filing to begin clinical development.