Amgen to Acquire Rodeo Therapeutics for up to $721 Million

Amgen announced on March 30, 2021 that it has acquired Rodeo Therapeutics, a US-based biopharmaceutical company focused on small-molecule therapy development, for up to $721 million.

Under the terms of the agreement, Amgen will provide an upfront payment of $55 million and future potential milestone payments of up $666 million in cash, Amgen said in a company press release. The acquisition will give Amgen access to Rodeo's 15-prostaglandin dehydrogenase (15-PGDH) program, which will strengthen its inflammation portfolio.

"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," said Raymond Deshaies, PhD, senior vice-president of global research at Amgen, in the press release.

"We are thrilled that Amgen recognizes the potential value and differentiated profile of our 15-PGDH inhibitor program,” added Thong Q. Le, president and CEO of Rodeo, in the press release. “With decades of experience in developing, manufacturing, and commercializing innovative therapies for patients suffering from a broad range of immunologic diseases and conditions, Amgen is ideally positioned to rapidly advance our program into the clinic."

Source: Amgen