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Wednesday, Dec 6, 2023

Amgen Invests $66 million in U.K. Genetics Firm

Amgen Inc. has invested $66 million in United Kingdom-based gene analysis company Oxford Nanopore, the Thousand Oaks biotech announced Thursday. Amgen subsidiary Decode Genetics already uses Oxford Nanopore’s gene sequencing technology to develop medical treatments. “The study of human genetics continues to uncover insights into the diseases we face as a society,” said Decode Genetics founder Kari Stefansson in a statement. “Oxford Nanopore’s long-read sequencing capability creates a window into parts of the genome that have been out of reach, as well as giving us a much better handle on structural variants that confer risk of a wide variety of diseases.” Amgen will make the investment by purchasing $66 million worth of shares in the privately held company. The price per share will be the same as in Oxford Nanopore’s primary fundraising round in March. Shares of Amgen (AMGN) dropped a fraction of a cent, or less than 1 percent, on Thursday to close at $202.72 on the Nasdaq.

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