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Thousand Oaks, CA (June 4)-Amgen agreed to acquire Ilypsa (Santa Clara, CA), a private company that develops nonabsorbed drugs for renal disorders, for $420 million.
Thousand Oaks, CA (June 4)-Amgen agreed to acquire Ilypsa (Santa Clara, CA), a private company that develops nonabsorbed drugs for renal disorders, for $420 million. The acquisition includes Ilypsa’s ILY101 drug candidate, a late-stage selective phosphate binder that treats hyperphosphatemia in chronic kidney disease (CKD) patients. Amgen also will gain Ilypsa’s proprietary, high-throughput, discovery and development platform.
Under the terms of the agreement, Amgen will purchase Ilypsa for $420 million in cash, and Ilypsa will become a wholly-owned subsidiary of Amgen when the transaction is completed. Ilypsa’s shareholders and both companies’ boards of directors approved the acquisition. The deal is subject to customary closing conditions and regulatory approvals and is expected to close in the third quarter of 2007.
ILY101 is an orally administered, nonabsorbed polymeric agent that blocks the absorption of ingested phosphate. Studies suggest that ILY101 may heighten phosphate-binding selectivity and capacity compared with currently available polymeric phosphate-binding agents. ILY101 has completed Phase II trials in patients with CKD who are on hemodialysis. Amgen believes the agent is a strategic fit for its portfolio of nephrology drugs.