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Lured By Its Discovery Platform And Pipeline, Amgen Bids For Nuevolution

 
• By Sten Stovall

Amgen offered to buy its Scandinavian discovery partner for $166.8m to gain access to Nuevolution’s DNA-encoded drug discovery platform and nascent pipeline.

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Amgen’s $166.8m Offer Backed By Nuevolution Board And Key Shareholders • Source: Shutterstock

Clearly impressed with their ongoing drug discovery collaboration, Amgen Inc. has now offered to buy Nuevolution AS for $166.8m in cash, representing at SEK32.5 ($3.37) per share a premium of 169% to the biotech’s closing price on 21 May, the day before the offer was announced, and which is being unanimously recommended by the Copenhagen-headquartered group board and main shareholders.

Founded in 2001, Nuevolution is an innovator in small-molecule drug discovery. Its internally developed DNA-encoded drug discovery platform, Chemetics, has...

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