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news.Amgen has acquired the US-based biotechnology company BioVex Group. The acquisition had been initialised on 24 January this year, following a definitive acquisition agreement.
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The acquisition includes an investigational oncolytic vaccine in Phase 3 clinical development, OncoVex, as a new approach to treat melanoma, head and neck cancer. BioVex is also developing a genital herpes vaccine called ImmunoVex.
Under the terms of the agreement signed in January this year, Amgen will pay up to $1bn of which the company will pay $425m in cash at closing and up to $575m in additional payments after achieving certain regulatory and sales milestones.
Following the transaction, BioVex will become a wholly owned subsidiary of Amgen.
OncoVex has demonstrated anti-tumour activity in clinical studies to treat melanoma and head and neck cancer and BioVex had initiated patient enrolment into pivotal Phase 3 trials in both indications in January.