Nasdaq-listed Amgen has agreed to acquire Oxford-based Dark Blue Therapeutics in a deal valued at around £622 million.
The swoop is set to strengthen the US MedTech giant’s early-stage oncology pipeline and its focus on targeted protein degradation.
Private firm Dark Blue Therapeutics is currently developing first-in-class small molecule therapies designed to degrade disease-driving proteins.
Its lead investigational programme targets MLLT1 and MLLT3, proteins implicated in certain forms of acute myeloid leukemia (AML), an aggressive blood cancer with limited treatment options and high relapse rates.
Amgen said preclinical studies have shown promising anti-cancer activity in leukemia models, with evidence that the approach is mechanistically distinct from existing therapies.
The company believes this could support both single-agent use and combination strategies aimed at overcoming treatment resistance and improving the durability of remission in patients with AML.
Following completion of the deal, Dark Blue Therapeutics will be integrated into the company’s research organisation, bolstering its early discovery efforts in oncology.
“Amgen has the expertise, resources and commitment to accelerate development of DBT 3757 to treat patients with acute leukemia, including those that do not respond to current standard therapies,” said Alastair MacKinnon, chief executive of Dark Blue Therapeutics.
“With its world-leading capabilities in oncology and deep experience in developing, manufacturing, and commercializing novel medicines, we are confident that Amgen will build on our pre-clinical work to bring DBT 3757 to the patients who urgently need new treatment options.
“We extend our sincere thanks to the entire Dark Blue team for their dedication and hard work, and to our investors, whose invaluable support has made this achievement possible.”
Financial terms include upfront and milestone-based payments, with the total consideration reaching up to £622m depending on development and regulatory outcomes.
The business, listed in the US, has a market cap of $177.8 billion.
It is one of the world’s largest MedTechs, with a portfolio spanning oncology, cardiovascular disease, inflammation and rare conditions.
Jay Bradner, managing director and executive vice president of R&D at Amgen, added: “Acute myeloid leukemia remains one of the most difficult cancers to treat, and we see an urgent need for new mechanisms capable of changing the trajectory of this disease.
“This acquisition complements and extends our research in targeted protein degradation and leukemia therapeutics, advancing our strategy to invest early in rising medicines for novel therapeutic targets.
“The adjacency of this program to our considered expertise in cancer biology will propel MLLT1/3-targeting medicines to clinical investigation for patients facing the challenging diagnosis of AML.”
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