Amgen announced today an agreement with KAI Pharmaceuticals, a privately owned company based in San Francisco, in which they will pay $315 million in cash to acquire KAI. Under this agreement Amgen will have worldwide rights (excluding Japan) to KAI Pharmaceuticals lead product candidate KAI-4169. KAI-4169 is a novel agent currently being studied for the treatment of secondary hyperparathyroidism in patients on dialysis for chronic kidney disease. Under the agreement Amgen's financials will further clinical trials of the agent KAI-4169. The majority of chronic kidney disease patients who need dialysis are affected by secondary hyperparathyroidism , which typically worsens as kidney function deteriorates. In phase II trials there was a statistically considerable improvement compared with a placebo with no discontinuations due to adverse side affects. A positive outcome as there are about 1.6 million patients in the potential patient population in developed countries, Amgen said.
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To hear more about partnerships and investment in the biotech and pharmaceutical industry go to BioPharma Australasia which will be held on the 23rd to the 24th August, 2012 at the Swissotel, Sydney