Amgen, Kyowa Kirin Ink $1.25B Deal for Developing KHK4083 In Skin Disorders

• Amgen Inc (NASDAQ: AMGN) and Kyowa Kirin Co Ltd (OTC: KYKOF) have agreed to jointly develop and commercialize KHK4083, Kyowa Kirin's Phase 3-ready anti-OX40 fully human monoclonal antibody in development for atopic dermatitis, with potential in other autoimmune diseases.

• In February, Kyowa Kirin announced positive results from a Phase 2 study of KHK4083 in patients with moderate-to-severe atopic dermatitis.

• In exchange for an upfront of $400 million and milestones worth up to $850 million, Amgen will lead development, manufacturing, and sales outside of Japan for KHK4083.

• If approved, Kyowa Kirin will co-promote the drug with Amgen in the U.S., with the option to co-promote it in other markets, including some in Europe and Asia.

• Amgen will host a webcast call today at 8:00 a.m. ET.

• Price Action: AMGN shares are up 1.9% at $242.54 during the premarket session on the last check Tuesday.

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