M&A Deal Summary

Amgen Acquires Abgenix

On December 14, 2005, Amgen acquired life science company Abgenix from Nexus Life Science Partners for 2.2B USD

Acquisition Highlights
  • This is Amgen’s 4th transaction in the Life Science sector.
  • This is Amgen’s 6th largest (disclosed) transaction.
  • This is Amgen’s 4th transaction in the United States.
  • This is Amgen’s 2nd transaction in California.

M&A Deal Summary
Date 2005-12-14
Target Abgenix
Sector Life Science
Buyer(s) Amgen
Sellers(s) Nexus Life Science Partners
Deal Type Add-on Acquisition
Deal Value 2.2B USD

Target

Abgenix

Fremont, California, United States
Abgenix is a biopharmaceutical company focused on the discovery, development and manufacturing of fully human therapeutic antibodies. The company's antibody development platform includes a leading technology and state-of-the-art manufacturing capabilities that enable the rapid generation, selection and production of high affinity, fully human antibody product candidates to a variety of disease targets.

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Buyer(S) 1

Buyer

Amgen

Thousand Oaks, California, United States
Category Company
Founded 1980
Sector Life Science
Employees26,700
Revenue 28.2B USD (2023)
DESCRIPTION
Entrance to Amgen's corporate campus in Thousand Oaks, California.
Entrance to Amgen's corporate campus in Thousand Oaks, California.

Amgen is a drug development company focused on discovering, developing, manufacturing and delivering human therapeutics. Amgen uses tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology. Amgen focuses on areas of high unmet medical need and leverages its biologics manufacturing expertise to strive for solutions that improve health outcomes and people's lives. Amgen was founded in 1980 and is based in Thousand Oaks, California.

DEAL STATS #
Overall 4 of 21
Sector (Life Science) 4 of 20
Type (Add-on Acquisition) 4 of 20
State (California) 2 of 9
Country (United States) 4 of 16
Year (2005) 1 of 1
Size (of disclosed) 6 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-29 Tularik

San Francisco, California, United States

Tularik is engaged in the discovery and development of a broad range of novel and superior orally available medicines that act through the regulation of gene expression. Tularik's scientific platform is focused on three therapeutic areas: cancer, inflammation and metabolic disease. Tularik currently has five drug candidates in clinical trials. In the cancer area, Tularik is currently conducting a pivotal study of T67 for the treatment of hepatocellular carcinoma and Phase 2 trials with T607 for the treatment of gastric and esophageal cancer. T487, for the treatment of inflammatory diseases, and T131, for the treatment of type 2 diabetes, are in Phase 2 trials to evaluate safety and pharmacokinetic parameters.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-29 Avidia

Mountain View, California, United States

Avidia is a privately-held biopharmaceutical company discovering and developing a new class of human therapeutic proteins. Avidia is engineering these Avimer(TM) therapeutics against multiple validated and novel targets to address a wide range of disease areas, including inflammation, oncology and neurology.

Buy $290M

Seller(S) 1

SELLER

Nexus Life Science Partners

New York, New York, United States
Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Nexus Life Science Partners is a private equity firm that targets private and public healthcare companies located within the United States and around the world. The Firm's focus is on the growth segments of the healthcare industry. In particular, Nexus looks for product-driven life sciences companies developing breakthrough therapeutics for clinical needs, positively altering disease course and associated costs. The firm seeks for each private investment a potential for liquidity within 24 months after initial investment, as well as a 2-3 times return on invested capital. Nexus Life Science Partners was formed in 2001, and is based in New York, New York.

DEAL STATS #
Overall 5 of 22
Sector (Life Science) 5 of 18
Type (Add-on Acquisition) 3 of 10
State (California) 1 of 6
Country (United States) 5 of 19
Year (2005) 2 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-20 Guilford Pharmaceuticals

Baltimore, Maryland, United States

Guilford Pharmaceuticals discovered, developed and marketed pharmaceutical products, targeting the hospital and neurological markets. The company was acquired by MGI Pharma (Nasdaq: MOGN), an oncology and acute care focused biopharmaceutical company

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-15 Cambridge Antibody Technology

Gaithersburg, United Kingdom

Cambridge Antibody Technology (CATG) is a leader in the development of human monoclonal antibodies as new treatments for disease, having developed a pipeline of novel human monoclonal antibodies. HUMIRA, an antibody for the treatment of rheumatoid arthritis, developed in collaboration with Abbott, is on the market.

Sell $702M
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