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Amgen Bets On Regenerative Immunology With Rodeo Therapeutics Acquisition

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Vandana Singh
·1 min read
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With blockbuster immunology treatments Enbrel (via $16 billion acquisition of Immunex in 2009) and Otezla (added in 2013 via $13 billion deal) already in its bag, Amgen Inc (NASDAQ: AMGN) has now put its bet on a privately-held Rodeo Therapeutics.

  • This month, Amgen announced to acquire Five Prime Therapeutics for $1.9 billion and outlasted around 15 potential suitors.

  • Amgen will pay $55 million upfront and $666 million in future milestones for Rodeo and its small-molecule therapies targeting the 15-prostaglandin dehydrogenase (15-PGDH) enzyme, potentially implicated in a range of indications.

  • Rodeo's lead compounds aim to modulate 15-PGDH and increase tissue levels of the prostaglandin PGE2.

  • Higher levels of that lipid have been found to protect against colitis and idiopathic pulmonary fibrosis, accelerate hematopoietic stem cell reconstitution following bone marrow transplant, and promote liver regeneration in various animal models.

  • Rodeo nominated its first candidate, RTX-1688, in August last year for inflammatory bowel disease. 

  • Price Action: AMGN shares closed 2% lower at $249.75 on Tuesday.

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