Monday, July 16, 2007

Amgen Completes Alantos Acquisition

Thousand Oaks-based Amgen said Monday afternoon that it has closed its acquisition of Alantos. Alantos is developing drugs for the treatment diabetes and inflammatory diseases. The deal was worth $300M in cash, and was originally announced in early June. Alantos is based in Cambridge, Massachusetts. Amgen said today that the transaction provides Amgen with Alantos's DPP-IV inhibitor in clinical development for the treatment of type II diabetes as well as its matrix metalloproteinases platform for osteoarthritis.