Am­gen of­fers to swal­low Den­mark-based drug dis­cov­ery part­ner in $167M deal

Am­gen is of­fer­ing to buy its Copen­hagen-based part­ner Nuevo­lu­tion — pop­u­lar with Big Phar­ma leagues for its drug dis­cov­ery en­gine — for about $167 mil­lion.

Nuevo­lu­tion first tied up with the large US biotech in 2016 to work on find­ing fresh can­cer and neu­ro­science drugs for Am­gen, in a deal that made it el­i­gi­ble to re­ceive up to $410 mil­lion in de­vel­op­men­tal mile­stones for any ther­a­py that makes it across the fin­ish line. In 2018, Am­gen opt­ed-in on two pro­grammes and is now cov­er­ing de­vel­op­ment costs, and can ex­er­cis­es its op­tion to li­cense the can­di­dates.

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