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05 Oct 2016

Biotech Giant Amgen (AMGN) Forges $410 Million R&D Pact With Tiny Nuevolution

Thousand Oaks, California-based Amgen (AMGN) signed a research collaboration deal with Copenhagen, Denmark’s Nuevolution AB. The two companies will collaborate to develop and commercialize drugs in oncology and neuroscience with multiple targets.

Nuevolution will utilize its Chemetics drug discovery platform to identify and advance potential compounds of interest to Amgen. Amgen has an exclusive option to acquire rights to any successful programs. Nuevolution can receive licensing fees and milestone payments up to $410 million (US) for each target. It will also be eligible for royalties.

Nuevolution’s lead pipeline candidate is a retinoic acid receptor-related orphan receptor gamma t inhibitor. The company indicates it has shown promise in several inflammatory disease models in animals, including rheumatoid arthritis (RA) and psoriasis. Nuevolution has said that it hopes to make an Investigational New Drug (IND) filing at the end of this year or early 2017, with hopes of beginning a Phase I trial in 2017.

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