Amgen Acquires Rights to Multiple Myeloma Therapy From Boehringer
September 01 2016 - 11:34AM
Dow Jones News
By Tess Stynes
Biotechnology company Amgen Inc. (AMGN) acquired global rights
from Boehringer Ingelheim GmbH to an investigational immunotherapy
for multiple myeloma, a rare and aggressive blood cancer.
The treatment initially was licensed to the Germany-based
pharmaceutical company by cancer-drug developer Micromet Inc.,
which Amgen acquired in 2012 amid a broader effort to bolster its
research-and-development pipeline.
Financial terms weren't disclosed for the deal with Boehringer,
which provides Amgen with global development and commercialization
rights to the investigational therapy, which currently is in early
phase studies.
Like many other drugmakers, Amgen has been counting on
introductions of new medicines, along with cost-cutting, as some of
the company's older biotech drugs face competition from
lower-priced treatments.
Separately, Amgen and Servier expanded their collaboration, with
the France-based drugmaker exercising its option to commercialize
investigational heart-failure therapy omecamtiv mecarbil in Europe
as well as in the Commonwealth of Independent States, including
Russia. The companies also said a Phase 3 development program for
omecamtiv mecarbil with partner Cytokinetics will move forward,
marking a key milestone for the treatment after some 15 years in
development.
Servier will make a $10 million option-exercise payment related
to Amgen, as well as any future milestone and royalty payments and
assume some development costs.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
September 01, 2016 11:19 ET (15:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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