Amgen to acquire ChemoCentryx for $3.7bn
The nearly $4bn ChemoCentryx acquisition will expand Amgen’s inflammation and nephrology portfolio and pipeline.
Amgen has entered into a definitive agreement to acquire ChemoCentryx Inc., a biopharmaceutical company focused on orally administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. Under the agreement, ChemoCentryx will be acquired for $52 per share in cash, for a total enterprise value of approximately $3.7 billion.
“The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with Tavneos, a transformative, first-in-class treatment for ANCA-associated vasculitis,” commented Robert Bradway, chairman and chief executive officer at Amgen, a leading company in inflammation and nephrology, with a diverse portfolio and pipeline. “We are excited to join in the Tavneos launch and help many more patients with this serious and sometimes life-threatening disease for which there remains significant unmet medical need. We also look forward to welcoming the highly skilled team from ChemoCentryx that shares our passion for serving patients suffering from serious diseases.”
Tavneos is an orally administered selective complement component 5a receptor inhibitor. It was approved by the US Food and Drug Administration in October 2021 as an adjunctive treatment for adult patients with severe active ANCA-associated vasculitis, specifically granulomatosis with polyangiitis (GPA) and microscopic polyangiitis (MPA) (the two main forms of ANCA-associated vasculitis), in combination with standard therapy.
ANCA-associated vasculitis is an umbrella term for a group of multi-system autoimmune diseases with small vessel inflammation. Inflamed vessels may rupture or become occluded giving rise to a broad array of clinical symptoms and signs related to a systemic inflammatory response which may result in profound injury and dysfunction in the kidneys, lungs and other organs.
In addition to Tavneos, ChemoCentryx has three early-stage drug candidates that target chemoattractant receptors in other inflammatory diseases and an oral checkpoint inhibitor for cancer.
“A fierce commitment to improving human lives is the bond that unites Amgen and ChemoCentryx today,” stated Dr Thomas Schall, president and chief executive officer of ChemoCentryx. “Last year, after 25 years of proud history, we at ChemoCentryx delivered on our founding promise with the approval of Tavneos for patients with anti-neutrophil cytoplasmic autoantibody-associated vasculitis (ANCA-associated vasculitis). It is an honour to now join Amgen’s great mission and together begin a bright new era bringing landscape-shaping medicines like TAVNEOS to those who will benefit most.”
US sales of Tavneos in the first quarter of 2022 were $5.4 million. Tavneos is also approved in major markets outside the US, including the EU and Japan. Vifor Fresenius Medical Care Renal Pharma Ltd. will retain exclusive rights to commercialize Tavneos outside the US, except in Japan where Kissei Pharmaceutical Co. holds commercialisation rights and Canada where Otsuka Canada Pharmaceutical holds commercialisation rights.
The transaction has been unanimously approved by each company’s board of directors. The transaction is subject to ChemoCentryx stockholder approval, regulatory approvals and other customary closing conditions, and is expected to close in the fourth quarter of 2022.