Amgen Acquires Rights to Multiple Myeloma Therapy From Boehringer

By Tess Stynes

Biotechnology company Amgen Inc. (AMGN) acquired global rights from Boehringer Ingelheim GmbH to an investigational immunotherapy for multiple myeloma, a rare and aggressive blood cancer.

The treatment initially was licensed to the Germany-based pharmaceutical company by cancer-drug developer Micromet Inc., which Amgen acquired in 2012 amid a broader effort to bolster its research-and-development pipeline.

Financial terms weren't disclosed for the deal with Boehringer, which provides Amgen with global development and commercialization rights to the investigational therapy, which currently is in early phase studies.

Like many other drugmakers, Amgen has been counting on introductions of new medicines, along with cost-cutting, as some of the company's older biotech drugs face competition from lower-priced treatments.

Separately, Amgen and Servier expanded their collaboration, with the France-based drugmaker exercising its option to commercialize investigational heart-failure therapy omecamtiv mecarbil in Europe as well as in the Commonwealth of Independent States, including Russia. The companies also said a Phase 3 development program for omecamtiv mecarbil with partner Cytokinetics will move forward, marking a key milestone for the treatment after some 15 years in development.

Servier will make a $10 million option-exercise payment related to Amgen, as well as any future milestone and royalty payments and assume some development costs.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

September 01, 2016 11:19 ET (15:19 GMT)

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