Amgen to acquire American biopharma company ChemoCentryx for $3.7bn
Amgen has agreed to acquire ChemoCentryx, a biopharma company engaged in developing medications for inflammatory and autoimmune diseases and cancer, in an all-cash deal worth around $3.7 billion.
Based in California, ChemoCentryx is listed on NASDAQ. As per the terms of the deal, its shareholders will be offered $52 per share.
Through the deal, Amgen will gain access to TAVNEOS (avacopan), which has approval from the US Food and Drug Administration (FDA) as an adjunctive treatment for severe active antineutrophil cytoplasmic antibody (ANCA) associated vasculitis in adults.
TAVNEOS, which is a selective complement component 5a receptor inhibitor that is to be orally administered, is also approved in other markets like the European Union and Japan.
Commenting on Amgen acquisition of ChemoCentryx, Robert A. Bradway — Amgen chairman and CEO said: “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.
“We are excited to join in the TAVNEOS launch and help many more patients with this serious and sometimes life-threatening disease for which there remains significant unmet medical need.”
Amgen acquisition of ChemoCentryx. Photo courtesy of Amgen Inc.
Apart from TAVNEOS, ChemoCentryx has three drug candidates in early-stage development that are said to target chemoattractant receptors in other inflammatory diseases. The biopharma company also has an oral checkpoint inhibitor for cancer.
Thomas J. Schall — ChemoCentryx president and CEO, commenting on Amgen acquisition of ChemoCentryx, said: “A fierce commitment to improving human lives is the bond that unites Amgen and ChemoCentryx today.
“Last year, after 25 years of proud history, we at CCXI delivered on our founding promise with the approval of TAVNEOS for patients with anti-neutrophil cytoplasmic autoantibody-associated vasculitis (ANCA-associated vasculitis). It is an honor to now join Amgen’s great mission, and together begin a bright new era bringing landscape-shaping medicines like TAVNEOS to those who will benefit most.”
The deal has been approved by unanimously the boards of directors of both firms.
Amgen acquisition of ChemoCentryx, which is subject to the latter’s shareholders’ approval, receipt of regulatory approvals, and other conditions, is likely to be wrapped up in Q4 2022.