Thousand Oaks, Calif.-based biotechnology company Amgen announced it will acquire Kai Pharmaceuticals, a privately held biopharmaceutical company based in South San Francisco, for $315 million in cash.
Amgen to buy Kai Pharmaceuticals
Kai is developing a therapy to treat secondary hyperparathyroidism in patients with chronic kidney disease who are on dialysis, according to an Amgen news release. The therapy is administered at the same time a patient undergoes dialysis.
As part of the agreement, Amgen will provide a loan to Kai Pharmaceuticals for Phase 3 clinical development planning for the therapy before the deal's closing.
Earlier this year, Amgen announced that it planned to acquire Micromet, a Rockville, Md.-based company that is developing a therapy to treat acute lymphoblastic leukemia and non-Hodgkin's lymphoma.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.