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Thursday, Mar 30, 2023

Amgen invests in heart muscle drug

Amgen Inc. exercised its option to obtain exclusive license to a potential drug from a South San Francisco company, sending both stocks upward in trading Tuesday. Amgen will have worldwide license, excluding Japan, to a cardiac muscle activator being researched in small clinical trials for use in the treatment of heart failure. The Thousand Oaks-based biotech company paid Cytokinetics Inc. a $50 million nonrefundable exercise fee and will take over responsibility for developing and commercializing the drug and related compounds. For the full story click here

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