With the largest drug delivery-related acquisition, Amgen (NSDQ:AMGN) bought Five Prime Therapeutics (NSDQ:FPRX) to support its strategy for international expansion and accelerate pipeline programs to complement Amgen’s numerous injectable and oral oncology therapeutics.
The $1.9 billion deal between the two California-based companies adds Five Prime’s pipeline to Amgen’s oncology portfolio, including Five Prime’s lead asset, bemarituzumab.
Bemarituzumab is a first-in-class, Phase 3-ready anti-FGFR2b antibody for advanced gastric or gastroesophageal junction cancer. Trial results for the therapeutic suggest that FGFR2b could be used in treating other epithelial cancers, including lung, breast, ovarian and more.
“Five Prime fits squarely within Amgen’s leading oncology portfolio and includes bemarituzumab, a Phase 3 trial-ready, first-in-class program for gastric cancer, the third leading cause of cancer mortality worldwide,” Amgen Chair and CEO Robert Bradway said. “Working with the dedicated professionals joining us from Five Prime, we plan to quickly move bemarituzumab into a Phase 3 study, bringing it one step closer to helping patients suffering from gastric cancer.”
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