Amgen agrees to acquire biopharmaceutical company Rodeo Therapeutics

Biotechnology company Amgen has agreed to acquire privately held biopharmaceutical company Rodeo Therapeutics.

Under the deal, the company will acquire all Rodeo Therapeutics’ outstanding shares for a $55m upfront payment and an additional $666m of future contingent milestone payments in cash.

Seattle-based Rodeo Therapeutics develops small-molecule therapies to promote regeneration and repair of multiple tissues.

It is also focused in developing orally available modulators of prostaglandin biology, which has a significant role to play in tissue regeneration and repair.

Amgen stated that Rodeo Therapeutics’ lead 15-prostaglandin dehydrogenase (15-PGDH) programme is a strong fit to its inflammation portfolio and helps to develop therapeutics for patients.

Rodeo Therapeutics president and CEO Thong Q. Le said: “We are thrilled that Amgen recognises the potential value and differentiated profile of our 15-PGDH inhibitor programme.

“With decades of experience in developing, manufacturing and commercializsing innovative therapies for patients suffering from a broad range of immunologic diseases and conditions, Amgen is ideally positioned to rapidly advance our programme into the clinic.”

As shown in preclinical studies, the increase in PGE2 through modulation of a prostaglandin-degrading enzyme (15-PGDH) can protect against colitis and idiopathic pulmonary fibrosis (IPF) and promotes liver regeneration in many animal models.

Amgen Global Research senior vice-president Raymond Deshaies said: “The enzyme 15-PGDH plays a key role in many disease-relevant processes such as stem cell self-renewal and epithelial barrier repair.

“Given the encouraging preclinical data to date, we are excited about the opportunity to develop a novel therapy with potential in a range of important inflammatory disease indications.”