Amgen agreed to acquire two companies, Ilypsa and Atlantos this week. Ilypsa is a private company developing non-absorbed drugs for renal disorders. Ilypsa’s lead drug candidate, ILY101, is a phosphate binder for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis.
Under terms of the Ilyspa agreement, Amgen will pay $420 million in cash to acquire Ilypsa. Following completion of the transaction, Ilypsa will become a wholly owned subsidiary of Amgen. The acquisition has been approved by the boards of directors of each company and the shareholders of Ilypsa and is expected to close in the third quarter of 2007.
ILY101 is an orally administered, non-absorbed polymeric agent that works by preventing the absorption of ingested phosphate. Studies suggest that ILY101 may have enhanced phosphate binding selectivity and capacity compared to currently available polymeric phosphate binding agents. It has recently completed Phase II trials in patients with CKDwho are on hemodialysis.
Amgen also agreed to acquire Alantos, a private company developing drugs for the treatment of diabetes and inflammatory diseases. Alantos' lead drug candidate, ALS 2-0426, is a DPP-IV inhibitor in clinical development (Phase IIa) for the treatment of type 2 diabetes.
Under terms of the Atlantos agreement, Amgen will pay $300 million in cash to acquire Alantos. Following completion of the transaction, Alantos will become a wholly-owned subsidiary of Amgen. The acquisition has been approved by the boards of directors of each company and the shareholders of Alantos. It is subject to customary closing conditions, including regulatory approvals, and is expected to close in the third quarter of 2007.
ALS 2-0426 is an orally administered inhibitor of DPP-IV, which in turn inactivates glucagon-like peptide-1 (GLP-1), an important mediator of blood glucose levels following meals. Studies suggest that ALS 2-0426 is potent, highly selective and can be administered once per day. Phase IIa studies were initiated in May in collaboration with Servier, who is the development and ex-U.S. commercialization partner for the compound.