Amgen to acquire biotechnology company Dezima
Posted: 17 September 2015 |
Under the terms of the acquisition agreement, Amgen will pay $300 million in cash at closing and up to $1.25 billion in additional payments…
Dezima shareholders have approved the agreement.
“With the recent launches of Repatha™ (evolocumab) and Corlanor (ivabradine), and today’s acquisition of Dezima, Amgen is proud to be on the leading edge of an exciting new wave of treatments for cardiovascular disease, an illness impacting millions of people worldwide,” said Robert A. Bradway, chairman and chief executive officer at Amgen.
Dezima’s lead molecule is TA-8995, an oral, once-daily cholesteryl ester transfer protein (CETP) inhibitor. In a Phase 2b clinical trial for dyslipidemia, TA-8995 reduced low-density lipoprotein cholesterol (LDL-C) by 45 to 48 percent compared to baseline. LDL-C reduction was consistent when TA-8995 was administered as monotherapy or in combination with statins.
Dezima’s TA-8995 compliments Amgen’s Repatha
Under the terms of the agreement, Amgen will pay $300 million in cash at closing and up to $1.25 billion in additional payments if certain development and sales milestones are achieved. Low single-digit royalties will be paid on net product sales above a certain threshold. The agreement is subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of this year. Following the completion of the transaction, Dezima Pharma, which originally licensed rights to TA-8995 from Mitsubishi Tanabe Pharma Corporation (MTPC), will become a wholly owned subsidiary of Amgen. MTPC will receive from Dezima a portion of the upfront payment, future development and sales milestone payments, and royalties on net product sales if a certain threshold is reached. MTPC will also retain development and commercialization rights to TA-8995 in certain territories in Asia, including Japan.
“We are delighted to join Amgen as the company has shown impressive leadership in the cardiovascular space by their rapid and state-of-the-art development program for Repatha, their injectable PCSK9 inhibitor,” said Rob de Ree, chief executive officer of Dezima. “Owning both Repatha and TA-8995, each innovative and complementary therapies with the potential to serve a broad range of patients with high cholesterol, will further solidify Amgen’s position in the future treatment of dyslipidemia.”
Sander Slootweg, Forbion’s Managing Partner and Chairman of Dezima, said, “Today’s acquisition and the value that Amgen has set on the company, validates our belief in the team and the science. Dezima will be a great fit for Amgen and complements its other products targeting high cholesterol.”