The pharmaceutical giant Amgen has finalized an agreement to purchase Dark Blue Therapeutics, a UK-based biotechnology firm. The total valuation of this transaction is reported to be as high as $840 million.
With this acquisition, Amgen gains control over an experimental small molecule compound. This candidate functions by identifying and breaking down two specific proteins, MLLT1 and MLLT3, which are responsible for driving acute myeloid leukemia (AML). AML is recognized as a highly aggressive form of blood cancer.
Early-stage laboratory data indicates that this molecule operates through a biological mechanism distinct from existing therapies. Pre-clinical models have shown effective anti-tumor results, supporting the potential for the drug to be used either as a standalone treatment or in tandem with other medicines. This approach aims to overcome current drug resistance issues and improve the long-term stability of patient remission.
Source: https://www.thepharmaletter.com/biotechnology/840-million-dark-blue-buy-hands-amgen-aml-drug