Amgen to acquire Kai for $315 million
THOUSAND OAKS, Calif. — Biotech manufacturer Amgen will acquire the private South San Francisco, Calif.-based drug developer Kai Pharmaceuticals for $315 million, the companies said Tuesday.
The deal includes the acquisition of KAI-4169, an experimental drug Kai is developing for secondary hyperparathyroidism in patients with chronic kidney disease who are on dialysis. Amgen has provided a loan to fund phase-3 clinical studies of the drug and will acquire rights to it worldwide, except for Japan.
"Kai has demonstrated encouraging results in the clinic," Amgen EVP research and development Sean Harper 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."