Astellas Pharma has signed an option and licensing agreement with Audax Biosciences for DAX-044, a preclinical interleukin-12 (IL-12) antibody-cytokine fusion built on Audax’s AVIKINE platform. The deal is structured so Astellas can evaluate emerging data before deciding whether to take a worldwide license. Audax will receive $285 million at signing/option-related milestones and is eligible for up to $1.05 billion in development and commercial payments, plus tiered double-digit royalties if approved. Under the agreement, Audax funds and advances the program into Phase I, expected to start in 2027, while Astellas retains the decision window to assume sole global responsibility. Audax positioned AVIKINE as a toxicity-mitigation approach—concentrating IL-12 activity within tumor microenvironments to avoid systemic exposure, a key challenge for IL-12-based therapies. DAX-044’s target selection and timing may determine whether Astellas expands beyond its existing immuno-oncology modalities such as ADCs and T cell engagers.