Amgen to Acquire Rodeo Therapeutics Corp.

By Stephen Nakrosis

Amgen Inc. on Tuesday said it agreed to acquire privately-held Rodeo Therapeutics Corp.

Amgen said the biopharmaceutical company "develops small-molecule therapies designed to promote regeneration and repair of multiple tissues."

The deal will see Amgen "acquire all outstanding shares of Rodeo in exchange for a $55 million upfront payment as well as future contingent milestone payments potentially worth up to an additional $666 million in cash," Amgen said.

The deal has received the approval of Rodeo's shareholders and board.

--Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

03-30-21 1646ET