Amgen to Acquire Alantos Pharmaceuticals, a Private Biotechnology Company in Cambridge, Massachusetts
Acquisition Will Provide Amgen with a Clinical Stage Dipeptidyl
Peptidase IV Inhibitor for the Treatment of Type II Diabetes and a
Matrix Metalloproteinases Platform for Osteoarthritis
THOUSAND OAKS, Calif., & CAMBRIDGE, Mass.--(BUSINESS WIRE)--June
6, 2007--Amgen (NASDAQ:AMGN) announced today that it has agreed to
acquire Alantos, a private company developing drugs for the treatment
of diabetes and inflammatory diseases. Alantos' lead drug candidate,
ALS 2-0426, is a DPP-IV inhibitor in clinical development (Phase 2a)
for the treatment of type II diabetes.
Under terms of the agreement, Amgen will pay $300 million in cash
to acquire Alantos. Following completion of the transaction, Alantos
will become a wholly-owned subsidiary of Amgen. The acquisition has
been approved by the boards of directors of each company and the
shareholders of Alantos. It is subject to customary closing
conditions, including regulatory approvals, and is expected to close
in the third quarter of 2007.
ALS 2-0426 is an orally administered inhibitor of DPP-IV, which in
turn inactivates glucagon-like peptide-1 (GLP-1), an important
mediator of blood glucose levels following meals. Studies suggest that
ALS 2-0426 is potent, highly selective and can be administered once
per day. Phase 2a studies were initiated in May in collaboration with
Servier, who is the development and ex-US commercialization partner
for the compound.
"We are pleased to add this clinical stage DPP-IV inhibitor to our
growing portfolio of therapeutics for the treatment of metabolic
diseases," said Roger M. Perlmutter, M.D., Ph.D., Amgen's executive
vice president for Research and Development. "We also intend to pursue
the MMP program with the hope of bringing a novel, disease modifying
therapy into the clinic for osteoarthritis."
"We are happy to have reached an agreement with Amgen that will
build on the important research and development accomplished to date
and will help to advance promising compounds to patients with serious
and life-threatening illnesses," said Alantos's chief executive
officer, Keith E. Dionne, Ph.D.
Amgen discovers, develops and delivers innovative human
therapeutics. A biotechnology pioneer since 1980, Amgen was one of the
first companies to realize the new science's promise by bringing safe
and effective medicines from lab, to manufacturing plant, to patient.
Amgen therapeutics have changed the practice of medicine, helping
millions of people around the world in the fight against cancer,
kidney disease, rheumatoid arthritis, and other serious illnesses.
With a deep and broad pipeline of potential new medicines, Amgen
remains committed to advancing science to dramatically improve
people's lives. To learn more about our pioneering science and our
vital medicines, visit www.amgen.com.
Alantos Pharmaceuticals is a chemistry-driven biopharmaceutical
company with a proprietary pipeline of small molecule drugs focused in
the area of type II diabetes and osteoarthritis / inflammation. With
locations in Cambridge, Massachusetts and Heidelberg, Germany, Alantos
Pharmaceuticals employs 45 people.
This news release contains forward-looking statements that involve
significant risks and uncertainties, including those discussed below
and others that can be found in our Form 10-K for the year ended Dec.
31, 2006, and in our periodic reports on Form 10-Q and Form 8-K. Amgen
is providing this information as of the date of this news release and
does not undertake any obligation to update any forward-looking
statements contained in this document as a result of new information,
future events or otherwise.
No forward-looking statement can be guaranteed and actual results
may differ materially from those we project. The Company's results may
be affected by our ability to successfully market both new and
existing products domestically and internationally, clinical and
regulatory developments (domestic or foreign) involving current and
future products, sales growth of recently launched products,
competition from other products (domestic or foreign), difficulties or
delays in manufacturing our products. In addition, sales of our
products are affected by reimbursement policies imposed by third-party
payors, including governments, private insurance plans and managed
care providers and may be affected by regulatory, clinical and
guideline developments and domestic and international trends toward
managed care and health care cost containment as well as U.S.
legislation affecting pharmaceutical pricing and reimbursement.
Government and others' regulations and reimbursement policies may
affect the development, usage and pricing of our products.
Furthermore, our research, testing, pricing, marketing and other
operations are subject to extensive regulation by domestic and foreign
government regulatory authorities. We or others could identify safety,
side effects or manufacturing problems with our products after they
are on the market. Our business may be impacted by government
investigations, litigation and products liability claims. Further,
while we routinely obtain patents for our products and technology, the
protection offered by our patents and patent applications may be
challenged, invalidated or circumvented by our competitors. We depend
on third parties for a significant portion of our manufacturing
capacity for the supply of certain of our current and future products
and limits on supply may constrain sales of certain of our current
products and product candidate development. In addition, we compete
with other companies with respect to some of our marketed products as
well as for the discovery and development of new products. Discovery
or identification of new product candidates cannot be guaranteed and
movement from concept to product is uncertain; consequently, there can
be no guarantee that any particular product candidate will be
successful and become a commercial product. Further, some raw
materials, medical devices and component parts for our products are
supplied by sole third-party suppliers.
CONTACT: Amgen, Thousand Oaks
David Polk, 805-447-4613 (media)
Arvind Sood, 805-447-1060 (investors)