Financial terms of the agreement were not disclosed. Medicines Development is a nonprofit biopharmaceutical company in Australia that will assume full responsibility for the further development and commercialization of AMG 634.
Thousand Oaks-based Amgen acquired the drug, called AMG 634, when it bought Otezla from Celgene in 2019 for $13.4 billion.
“Since tuberculosis and erythema nodosum leprosum remain challenging diseases in many countries around the world, Amgen sought an organization that could support the development of AMG 634 to address the global health unmet need,” Dr. David Reese, executive vice president of research and development at Amgen, said in a statement. “MDGH’s track record and experience in product development, global health, and neglected infectious diseases makes them an ideal company to further develop AMG 634 for the benefit of patients.”
Amgen announced the licensing agreement on Tuesday. Shares of Amgen (AMGN) closed Thursday down 1 cent to $222.93 on a day when the Nasdaq closed early because of Christmas Eve.