Thursday, March 4, 2021

Amgen Acquires Five Prime Therapeutics For $1.9 Billion

Thousand Oaks-based Amgen announced this morning that it will acquire Five Prime Therapeutics, a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies, in a deal worth $1.9 billion. Five Prime Therapeutics is publicly traded. Amgen said it will pay $38.00 per share in cash for Five Prime, adding that company's products to its oncology portfolio. Five Prime's lead compound, bemarituzumab, is a anti-FGFR2b antibody with positive data from a randomized, placebo-controlled Phase 2 study in frontline advanced gastric or gastroesophageal junction (GEJ) cancer.