Amgen to acquire Alantos

Amgen has announced the signing of an agreement to acquire privately-owned biotechnology firm Alantos Pharmaceuticals – a company involved in the development of therapies for inflammatory diseases and diabetes.

The transaction – which will make Alantos a wholly-owned subsidiary of Amgen – is valued at $300 million (150.55 million pounds) and is expected to be finalised in the third quarter of the year following regulatory approval with the merger agreement already approved by the boards of both firms.

Following the acquisition, Amgen will have the rights to the lead drug candidate from Alantos – ALS 2-0426 – a DPP-IV inhibitor with the potential to treat type two diabetes currently in phase IIa of clinical development.

Roger M Perlmutter, executive vice-president of research and development at Amgen, said: “We are pleased to add this clinical stage DPP-IV inhibitor to our growing portfolio of therapeutics for the treatment of metabolic diseases”

He added that the firm would also continue Alantos’ MMP programme with the aim of developing an innovative therapy for osteoarthritis.

In January 2007, Amgen announced a collaboration agreement with Cytokinetics for the discovery, development and marketing of small-molecule drugs to activate cardiac muscle contractility for the treatment of heart failure.