Amgen pays $50M to option Cytokinetics' HF drug
US biotechnology major Amgen has agreed to pay Cytokinetics a non-refundable exercise fee of $50.0 million to license heart failure drug candidate CK-1827452 and related compounds. The agent was developed as part of a 2006 collaboration between the two US firms.
"After reviewing the data from the CK-1827452 clinical trials, we are excited about the opportunity to advance this molecule," said Amgen executive vice president for R&D, Roger Perlmutter.
The agent - a myosin muscle activator - has a novel mechanism of action, Dr Perlmutter added. Shares in Cytokinetics jumped 44% to $3 in premarket trading on the day of the news, May 26.
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