Amgen, Inc. announced on 4 March that it will pay $1.9bn to acquire Five Prime Therapeutics, Inc. in a deal that someanalysts see as a potential precursor to larger business development by the company. Amgen’s purchase was motivated by the strength of Five Prime’s Phase III-ready, first-in-class FGFR2b-targeting antibody bemarituzumab in the treatment of HER-negative gastric cancer.
Amgen Paying $1.9bn For Five Prime And Its Gastric Cancer Antibody
Five Prime’s Phase III-ready bemarituzumab could offer significant revenue for Amgen, particularly in Asia, but analysts ask if the buyout is a precursor to greater deal making by Amgen.
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