Amgen Inc. announced Wednesday that it will acquire Dezima Pharma B.V., a Netherlands-based biotech that develops blood disorder treatments.
Recently, the Thousand-Oaks based company released two new cardiovascular drugs, Repatha and Corlanor, and with the addition of Dezima, Amgen plans to be at the forefront of cardiovascular treatments.
Under the purchase agreement, Amgen will pay $300 million, plus $1.25 billion if certain development and sales goals are met.
The merger is expected to be finalized in the fourth quarter of this year after the deal goes through regulatory approval and other customary closing conditions.
In addition, Amgen also announced Wednesday that it will be entering into a research license agreement with Xencor Inc., a biopharmaceutical company that develops antibodies that treat cancer, autoimmune diseases and allergies.
The two companies plan to develop and commercialize innovative therapeutics to treat cancer immunotherapy and inflammation. Amgen will be responsible for preclinical and clinical development, as well as sales worldwide.
Xencor is expected to receive $45 million, plus up to $1.7 billion for the deal, depending if certain clinical, regulatory and sales milestones are met.
Amgen shares closed down 96 cents or a fraction of a percent to $151.18 on the Nasdaq.