Amgen plans acquisition of Rodeo Therapeutics
Amgen has agreed to acquire US-based biopharma company Rodeo Therapeutics to strengthen its anti-inflammatory portfolio.
Amgen will pay $55m upfront, as well as potential future milestone payments worth up to an additional $666m, to gain control of Rodeo’s prostaglandin-targeting assets.
That includes Rodeo’s lead 15-prostaglandin dehydrogenase (15-PDGH) blocking modulators that have yielded ‘compelling’ in preclinical studies. They have also demonstrated clinical potential in multiple indications, according to Amgen.
"The enzyme 15-PGDH plays a key role in many disease-relevant processes such as stem cell self-renewal and epithelial barrier repair,” said Raymond Deshaies, senior vice president of global research at Amgen.
“Given the encouraging preclinical data to date, we are excited about the opportunity to develop a novel therapy with potential in a range of important inflammatory disease indications," he added.
Read more: http://www.pmlive.com/pharma_news/amgen_plans_acquisition_of_rodeo_therapeutics_1366143
Amgen will pay $55m upfront, as well as potential future milestone payments worth up to an additional $666m, to gain control of Rodeo’s prostaglandin-targeting assets.
That includes Rodeo’s lead 15-prostaglandin dehydrogenase (15-PDGH) blocking modulators that have yielded ‘compelling’ in preclinical studies. They have also demonstrated clinical potential in multiple indications, according to Amgen.
"The enzyme 15-PGDH plays a key role in many disease-relevant processes such as stem cell self-renewal and epithelial barrier repair,” said Raymond Deshaies, senior vice president of global research at Amgen.
“Given the encouraging preclinical data to date, we are excited about the opportunity to develop a novel therapy with potential in a range of important inflammatory disease indications," he added.
Read more: http://www.pmlive.com/pharma_news/amgen_plans_acquisition_of_rodeo_therapeutics_1366143
