The board of directors of Amgen and ChemoCentryx has granted unanimous approval for the acquisition.
Amgen has signed a definitive agreement to acquire biopharmaceutical company ChemoCentryx for $52 for each share in cash or a total enterprise cost of nearly $3.7bn.
ChemoCentryx focuses on orally administered therapeutics for the treatment of inflammatory disorders, autoimmune ailments and cancer.
For discovering, developing and marketing such treatments, the company targets the chemokine and chemoattractant systems.
With the takeover, Amgen will gain access to ChemoCentryx ’s Tavneos (avacopan), a therapy for serious autoimmune diseases.
This therapy complements Amgen ‘s expertise in inflammation and nephrology.
An orally administered selective inhibitor of complement component 5a receptor, Tavneos received approval from the US Food and Drug Administration (FDA) in October last year.
It is approved as an adjunctive therapy along with standard therapy for treating adults with severe active ANCA-associated vasculitis, particularly granulomatosis with polyangiitis (GPA) and microscopic polyangiitis (MPA).
Furthermore, Tavneos has received approvals in key markets, including the EU and Japan.
The company also has an oral checkpoint inhibitor for cancer and three early-stage therapy candidates that act on chemoattractant receptors in other inflammatory ailments.
The board of directors of Amgen and ChemoCentryx has granted unanimous approval for the acquisition.
Subject to necessary approvals and closing conditions, the deal is anticipated to conclude in the fourth quarter of this year.
Amgen chairman and CEO Robert Bradway said: “The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with Tavneos, a transformative, first-in-class treatment for ANCA-associated vasculitis.
“We are excited to join in the Tavneos launch and help many more patients with this serious and sometimes life-threatening disease for which there remains significant unmet medical need.”
In October last year, the company acquired all outstanding shares of clinical-stage biotechnology firm Teneobio for $2.5bn.
Source: pharmaceutical-technology.com
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