Amgen acquires Alantos for $300M
Leading US biotechnology firm Amgen has agreed to acquire Alantos, a private company developing drugs for the treatment of diabetes and inflammatory diseases. This is the second significant buy for Amgen in the space of just two days; it announced its decision to purchase renal specialist Ilypsa for $420.0 million (Marketletter June 11). It has also entered into research collaborations with Cytokinetics involving a stock purchase (Marketletter January 15)) and another with Graffinity (Marketletter March 5). Moreover, this follows last year's acquisition of Abgenix for $2.2 billion and Avidia for $380.0 million (Marketletters passim).
Alantos' lead drug candidate, ALS 2-0426, is a DPP-IV inhibitor in clinical development (Phase IIa), which is being evaluated for the treatment of type 2 diabetes.
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