Print“KAI has demonstrated encouraging results in the clinic.”
Amgen agreed to pay $315 million in cash to acquire KAI Pharmaceuticals, a deal that gives the biotech giant global rights to KAI’s experimental treatment for chronic kidney disease.
As part of the agreement, Amgen has also agreed to provide a loan to fund planning for late-stage clinical trials for KAI-4169, KAI’s lead drug candidate that is being developed for the treatment of for secondary hyperparathyroidism, a hormone imbalance common in
patients who are on dialysis.
“KAI has demonstrated encouraging results in the clinic," ,” said Sean Harper, executive vice president of Research and Development at Amgen. "We are excited about acquiring KAI, as well as the opportunity to potentially deliver a novel therapy for chronic kidney disease patients on dialysis suffering from secondary hyperparathyroidism."
The addition of KAI-4169 is expected to bolster Amgen’s market share for secondary hyperparathyroidism treatments. Amgen currently markets another drug for the condition, Sensipar, which is administered orally. It is due to come off patent protection in 2018. It recorded global sales of $808 million for 2011.
April 13, 2012
http://www.burrillreport.com/article-amgen_to_buy_kai_pharmaceuticals.html
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