Amgen 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 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.
ALS 2-0426 is an orally administered inhibitor of DPP-IV, which in turn inactivates glucagon-like peptide-1 (GLP-1), a 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, the development and ex-U.S. commercialization partner for the compound.