Tuesday, June 5, 2007

Amgen Buys Ilypsa For $420M

Amgen said Monday that it has agreed to acquire Ilypsa, a Santa Clara company developing treatments for renal disorders, in a $420M cash deal. Ilypsa's lead therapeutic compound has completed Phase 2 studies for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients on hemodialysis. Ilpsya has raused $46M in venture capital funding in two round of financing, from 5AM Ventures, Delphi Ventures, Johnson & Johnson Development Corporation, NLV Partners, and US Venture Partners. The acquisition is expected to close in Q3.