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Affymax Rises on Deal With Fresenius for Kidney Therapy

Affymax Inc. rose the most in seven months after the biotechnology company and partner Takeda Pharmaceutical Co. agreed to supply their anemia drug Omontys to Fresenius Medical Care AG for use in dialysis patients.

Affymax gained 19 percent to $14.24 at the close in New York, the biggest increase since Dec. 8, the day after a U.S. Food and Drug Administration advisory panel recommended approval of Omontys. The company’s shares have gained 97 percent in the past 12 months.