Amgen and KPCB to create Atara Biotherapeutics; Banner Pharmacaps changes hands

The world’s largest biotech firm Amgen (Nasdaq: AMGN) and venture capital group Kleiner Perkins Caufield & Byers (KPCB) have established Atara Biotherapeutics, a new drug development company with a focus on innovative therapies for patients with chronic diseases in therapeutic areas including nephrology and oncology.

Atara will have licenses to six Amgen assets, which are in various stages of development, ranging from preclinical to Phase I. Financial terms of the transaction are not being disclosed. Atara Biotherapeutics will be financed initially by KPCB, and Isaac Ciechanover, a former partner at KPCB, will serve as the president and chief executive officer. Amgen will have a minority equity interest in Atara.

“Amgen is excited to partner with KPCB to help advance molecules in Amgen’s pipeline that have the potential to treat serious illnesses,” said Sean Harper, executive vice president of R&&D at Amgen, adding: “With facilities in both the Bay Area and near Amgen’s Thousand Oaks campus, Atara Biotherapeutics will provide the opportunity to further foster biotechnology innovation in Amgen’s communities.”