Astellas takes option on Audax’s preclinical IL-12 cancer drug

Astellas Pharma has secured an exclusive option to license DAX-044, a preclinical cancer immunotherapy developed by Melbourne-based Audax Biosciences. The agreement was announced on October 28, 2026.

DAX-044 is an antibody–cytokine fusion designed to concentrate IL-12’s immune-activating effects in tumors while reducing the systemic toxicity that has challenged earlier IL-12 therapies. It is still in IND/CTN-enabling development; the companies describe its preclinical results as showing potential for a favorable therapeutic index.

Audax could receive up to US$285 million in upfront and option-exercise payments, plus up to US$1.05 billion in development and commercial milestones and tiered double-digit royalties if the drug is approved and sold.

Audax will continue development toward a Phase 1 trial expected to begin in 2027. If Astellas exercises its option, it would take responsibility for global development, manufacturing, and commercialization; Audax could retain co-funding and co-promotion rights in Australia and New Zealand.

The headline deal value of up to US$1.34 billion excludes royalties. DAX-044 has not yet been tested in humans, so its safety and effectiveness remain unproven.