Astellas has signed an option and licensing agreement with Audax Biosciences for DAX-044, a preclinical immuno-oncology candidate built on Audax’s AVIKINE platform. The deal’s potential value is stated at up to $1.34 billion, with Astellas gaining rights to license, develop, manufacture, and commercialize the asset if it exercises its option. Audax will receive $285 million in total consideration, including an upfront payment and a payment due upon option exercise. The company is also eligible for up to $1.05 billion in development and commercial milestones, plus tiered double-digit royalties on worldwide net sales if DAX-044 is approved. DAX-044 is described as an interleukin-12 (IL-12) antibody-cytokine fusion intended to concentrate activity in the tumor microenvironment to limit systemic toxicity. Audax will fund preclinical and IND/CTN-enabling work through Phase I, which is expected to begin in 2027, while Astellas would assume global responsibility after option exercise. The agreement underscores ongoing strategic portfolio-building in immuno-oncology around toxicity-managed cytokine delivery, with AVIKINE’s tumor-localization approach positioned as the differentiator.