Amgen acquires Dark Blue Therapeutics in deal valued at up to $840M

Amgen (AMGN) announced its acquisition of Dark Blue Therapeutics, a privately held biotechnology company based in the United Kingdom advancing first-in-class, small molecule-targeted protein degraders for oncology, in a transaction valued at up to $840M. The acquisition adds to Amgen’s portfolio an investigational small molecule that targets and degrades two proteins that drive specific types of acute myeloid leukemia, a fast-growing blood cancer. Preclinical data in leukemia models demonstrate promising anti-cancer activity and mechanistic differentiation from currently available therapies, establishing the rationale for single-agent and combination use to overcome treatment resistance and enhance durability of remission. Amgen expects to integrate Dark Blue Therapeutics into its existing research organization, further strengthening the company’s early oncology discovery efforts.