Wednesday, March 31, 2021

Amgen Acquires Rodeo Therapeutics

Thousand Oaks-based Amgen and Rodeo Therapeutics Corporation announced late Tuesday that Amgen has agreed to acquire Rodeo, a Seattle-based biopharmaceuticals company which is developing small molecule therapies to promote regeneration and repair of multiple tissues. According to the two, Amgen will pay $55M upfront, plus up to an additional $666M in cash in contingent milestone payments. Amgen said that Radio's program is a "strong strategic fit" with its inflammation portfolio.