Amgen: acquisition of Five Prime Therapeutics
(CercleFinance.com) - Amgen has announced an agreement to acquire Five Prime Therapeutics, a clinical stage biotech company that is focused on the development of immuno-oncology and targeted cancer therapies.
The company is offering 38 dollars per Five Prime share in cash, representing an equity value of approximately 1.9 billion dollars. The transaction is expected to be closed by the end of the second quarter and is subject to customary closing conditions.
The acquisition will provide Amgen with Five Prime's innovative pipeline, including bemarituzumab, a Phase III and first-in-class ready program for gastric cancer, the third most common cause of cancer death worldwide.
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The company is offering 38 dollars per Five Prime share in cash, representing an equity value of approximately 1.9 billion dollars. The transaction is expected to be closed by the end of the second quarter and is subject to customary closing conditions.
The acquisition will provide Amgen with Five Prime's innovative pipeline, including bemarituzumab, a Phase III and first-in-class ready program for gastric cancer, the third most common cause of cancer death worldwide.
Copyright (c) 2021 CercleFinance.com. All rights reserved.