Amgen To Acquire Alantos

Amgen will acquire Alantos, a private company developing drugs for diabetes and inflammatory diseases, for $300 million in cash. Alantos’ lead drug candidate, ALS 2-0426, is a DPP-IV inhibitor in Phase IIa development for the treatment of type II diabetes.

Under terms of the agreement, Alantos will become a wholly-owned subsidiary of Amgen. The acquisition has been approved by the boards of directors of each company and the shareholders of Alantos. Subject to customary closing conditions, the transaction is expected to close in 3Q2007.

ALS 2-0426 is an orally administered inhibitor of DPP-IV, which inactivates glucagon-like peptide-1 (GLP-1), a mediator of blood glucose levels following meals. Phase IIa studies were initiated in May in collaboration with Servier, the development and commercialization partner outside the U.S.

“We are pleased to add this clinical stage DPP-IV inhibitor to our growing portfolio of therapeutics for the treatment of metabolic diseases,” said Roger M. Perlmutter, M.D., Ph.D., Amgen’s executive vice president for R&D. “We also intend to pursue the MMP program with the hope of bringing a novel, disease modifying therapy into the clinic for osteoarthritis.”

“We are happy to have reached an agreement with Amgen that will build on the important R&D accomplished to date and will help to advance promising compounds to patients with serious and life-threatening illnesses,” said Alantos’s chief executive officer, Keith E. Dionne, Ph.D.