Amgen completes Avidia acquisition
Following anti-trust authority appproval, leading biotechnology firm Amgen has announced the completion of its acquisition of Avidia, a privately-held biopharmaceutical company that discovers and develops a new class of human therapeutics known as Avimer proteins.
The transaction provides Amgen with Avidia's lead product candidate, an inhibitor of interleukin-6 for the treatment of inflammation and autoimmune diseases, which is in Phase I clinical trials.
The previously-announced acquisition involves a $290.0 million cash payment plus a further up to $90.0 million on the achievement of certain milestones (Marketletter October 9).
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze