By Colin Kellaher
Amgen has acquired U.K.-based biotechnology company Dark Blue Therapeutics in a transaction valued at up to $840 million.
Amgen on Tuesday said the deal adds an investigational small molecule that targets and degrades two proteins that drive specific types of acute myeloid leukemia, a fast-growing blood cancer.
The Thousand Oaks, Calif., biotechnology company said it plans to integrate Dark Blue into its research organization, bolstering its early oncology discovery efforts.
Dark Blue is a biotech spinout from the University of Oxford whose major shareholders were Oxford Science Enterprises, Bristol Myers Squibb and Evotec.
Dark Blue said its lead candidate, DBT 3757, has shown strong anti-cancer activity across a range of leukemia models.
The $840 million price tag includes upfront and future milestone payments.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
01-06-26 1014ET
