Health

Amgen Buys ChemoCentryx for $3.7 Billion

Amgen Buys ChemoCentryx for $3.7 Billion

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Amgen will acquire ChemoCentryx, the developer of rare disease drugs, for $52 per share in cash, making the deal worth approximately $3.7 billion.

“The ChemoCentryx acquisition provides Amgen with a great opportunity to strengthen our decades-long leadership in inflammation and nephrology with TAVNEOS, a transformative, first-class treatment for ANCA-associated vasculitis,” said Robert A. Bradway, chairman and chief executive officer at Amgen. .

TAVNEOS revenue in the US was $5.4 million in the first full quarter of this year. The drug is also approved in the European Union and Japan. Vifor Fresenius Medical Care Renal Pharma Ltd. retains exclusive rights to commercialize TAVNEOS outside of the US, except in Japan, Otsuka, Canada, where Kissei Pharmaceutical has the commercialization rights and Canada where Pharmaceutical has the commercialization rights.

In addition to TAVNEOS, ChemoCentryx has three early stage drug candidates that target chemoattractant receptors in other inflammatory diseases. These are Avacopan for C3 glomerulopathy and hidradenitis suppurativa, CCX507/CCR9 for inflammatory bowel disease and CCX587/CCR6 for TH-induced skin disease. They also have an oral checkpoint inhibitor (CCX559) for cancer.

“Last year, after 25 years of proud history, at CCXI we fulfilled our founding promise with the approval of TAVNEOS for patients with anti-neutrophil cytoplasmic autoantibody-associated vasculitis (ANCA-associated vasculitis),” said Thomas J. Schall, PhD , president and chief executive officer of ChemoCentryx. “It is an honor to now join Amgen’s great mission and move together into a bright new era in which landscape-forming medicines like TAVNEOS are brought to those who will benefit most from them.”

TAVNEOS is an orally administered selective complement component 5a receptor inhibitor. It was approved by the U.S. Food and Drug Administration in October 2021 as an adjunctive treatment for adult patients with severe active ANCA-associated vasculitis, specifically granulomatosis with polyangiitis (GPA) and microscopic polyangiitis (MPA) (the two major forms of ANCA-associated vasculitis). vasculitis), in combination with standard therapy.

“We are excited to participate in the launch of TAVNEOS and help many more patients with this serious and sometimes life-threatening disease for which there remains a significant unmet medical need. We also look forward to welcoming the highly skilled team at ChemoCentryx who share our passion for helping patients suffering from serious diseases,” said Bradway.

Investments in the development of drugs for rare diseases have continued to increase in recent years, despite the pandemic and the economic downturn.

ANCA-associated vasculitis is a rare, serious and often fatal autoimmune disease that can affect many organ systems, including the lungs and kidneys, and is caused by anti-neutrophil cytoplasmic antibodies. There are about 40,000 people in the US with this condition, and about 4,000 new cases a year. It is estimated that about 75,000 people in Europe have it, with 7,500 new cases per year.

Amgen has a strong portfolio and pipeline in both inflammation and nephrology. The company’s ignition portfolio includes Otezla, ENBREL, TEZSPIRE, AMGEVITA (a biosimilar of HUMIRA), RIABNI (a biosimilar of Rituxan) and AVSOLA (a biosimilar of REMICADE).

The company’s pipeline includes four innovative Phase II inflammatory drugs – efavaleukin alfa for systemic lupus erythematosus and ulcerative colitis, Ordesekimab for celiac disease, rocatinlimab for atopic dermatitis and rozibafusap alfa for systemic lupus erythematosus – as well as Phase III STELARA biosimilar development. Amgen’s nephrology portfolio includes EPOGEN, Aranesp, Parsabiv and Sensipar.

The acquisition has been unanimously approved by each company’s board of directors, but is subject to ChemoCentryx’s shareholder approval, regulatory approvals and other customary closing conditions. The deal is expected to close in the fourth quarter of 2022.