Sunday, October 1, 2006

Amgen Acquires Avidia

Thousand Oaks-based Amgen acquired Mountain View-based Avidia, a biopharmaceutical company that develops human therapeutics for the treatment of inflammation and autoimmune diseases. The deal, which was announced Friday, is worth $290M in cash, and up to $90M in earnout. Avidia's lead product candidate, inhibitor of interleukin 6 (IL-6) for the treatment of inflammation and autoimmune diseases, is in Phase 1 clinical trials.

---