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Amgen to Acquire Alantos and Ilypsa
Amgen (Thousand Oaks, CA, www.amgen.com) will acquire Alantos (Cambridge, MA, www.alantos.com), a private company developing drugs for the treatment of diabetes and inflammatory diseases.
Amgen (Thousand Oaks, CA, www.amgen.com) will acquire Alantos (Cambridge, MA, www.alantos.com), a private company developing drugs for the treatment of diabetes and inflammatory diseases. Amgen will also purchase Ilypsa (Santa Clara, CA, www.ilypsa.com), a private company developing nonabsorbed drugs for renal disorders.
Alantos’s lead drug candidate, ALS 2-0426, is a DPP-IV inhibitor in clinical development (Phase 2a) for the treatment of type II diabetes. Under the terms of this agreement, Amgen will pay $300 million in cash to acquire Alantos.
Ilypsa’s lead drug candidate, ILY101, is a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease patients on hemodialysis. According to the agreement, Amgen will pay $420 million in cash to acquire Ilypsa.
Following completion of the transactions, Alantos and Ilypsa will become wholly owned subsidiaries of Amgen. The acquisitions are subject to customary closing conditions, including regulatory approvals, and are expected to close in the third quarter of 2007.