Amgen agrees $315m KAI Pharmaceuticals takeover

Amgen has announced that it will be purchasing KAI Pharmaceuticals for a cash fee of $315 million (198.2 million pounds).

The San Francisco-based business is currently developing an innovative and potentially promising new drug called KAI-4169, which is being assessed as a treatment of secondary hyperparathyroidism in dialysis patients with chronic kidney disease.

Under the terms of the new agreement, Amgen will gain worldwide rights to KAI-4169 in all territories excluding Japan, while a loan will be provided to support phase III development of the drug.

Secondary hyperparathyroidism is recognised as a common complication among chronic kidney disease patients, often leading to serious consequences.

Dr Sean Harper, executive vice-president of research and development at Amgen, said: "We are excited about acquiring KAI, as well as the opportunity to potentially deliver a novel therapy for chronic kidney disease patients on dialysis suffering from secondary hyperparathyroidism."

This comes after the company announced plans last week to collaborate with UCB and AstraZeneca on the development of new treatments for postmenopausal osteoporosis and inflammation respectively.