Amgen Takes ChemoCentryx for $3.7 Billion
"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," said Robert A. Bradway, chairman and chief executive officer at Amgen.
Last October, the US Food and Drug Administration approved Taveneos as an adjunctive treatment for adults with severe anti-neutrophil cytoplasmic autoantibody-associated (ANCA-associated) vasculitis – a group of multi-system autoimmune diseases with small vessel inflammation – in combination with standard therapy.
As well as the US, Tavneos is approved in other major markets, including the European Union and Japan. US Tavneos sales reached $5.4 million in the first quarter of 2022.
ChemoCentryx, which focuses on orally administered therapies for autoimmune diseases, inflammatory disorders and cancer, has three other early-stage drug candidates that target chemoattractant receptors in other inflammatory diseases and an oral checkpoint inhibitor for cancer.
Both companies’ boards of directors have unanimously approved the transaction, which is expected to close in the fourth quarter of 2022.
Last year, Amgen took over oncology company Five Prime Therapeutics for $1.9 billion, clinical-stage biotech Teneobio for up to $2.5 billion and Rodeo Therapeutics for $721 million.
Author: Elaine Burridge, Freelance Journalist