1. Scrip
  2. >>Business

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.

Fish
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...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Cidara’s Fortunes Improve Quickly With Non-Vaccine Flu-Prevention Data

 
• By Joseph Haas

Having recently abandoned the antifungal space, Cidara’s stock soared on Phase IIb data showing that its drug-Fc conjugate prevents seasonal flu at rates from 57%-76%.

Novo And Lilly Lay Out Patient Segmentation Plans For Obesity Treatment

 
• By Andrew McConaghie

As competition heats up and the obesity market matures, the two frontrunners are tailoring their studies to the wants and needs of different patient groups.

Vertex Heralds ‘Unprecedented’ Zimislecel Type 1 Diabetes Data

 
• By Kevin Grogan

The off-the-shelf stem cell therapy shows sustained glycemic control and a high rate of insulin independence.

Shigella Vaccine Pipeline And Why It Matters

 
• By Vibha Ravi

A GSK-Bharat Biotech deal on a shigella vaccine candidate has cast a spotlight on the disease, which is the second leading cause of diarrheal deaths in children below five. Scrip looks at data from Pharmaprojects, WHO and other sources to highlight why a vaccine matters and what pharma is doing.

More from Scrip

Novo And Lilly Lay Out Patient Segmentation Plans For Obesity Treatment

 
• By Andrew McConaghie

As competition heats up and the obesity market matures, the two frontrunners are tailoring their studies to the wants and needs of different patient groups.

Vertex Heralds ‘Unprecedented’ Zimislecel Type 1 Diabetes Data

 
• By Kevin Grogan

The off-the-shelf stem cell therapy shows sustained glycemic control and a high rate of insulin independence.

Pipeline Watch: Ten Approvals And Seventeen Phase III Readouts

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.