Sullivan Aids Amgen On $315M Kidney Drugmaker Buy

Law360, New York (April 10, 2012, 3:48 PM EDT) -- Amgen Inc. has acquired KAI Pharmaceuticals Inc., which is developing a drug to combat kidney disease, from its venture capital backers for $315 million, the California-based biotech company said Tuesday.

Amgen said it will acquire San Francisco-based KAI in an all-cash transaction.

Under the terms of the agreement, Amgen will provide a loan to enable the third phase of clinical development for KAI's leading drug candidate KAI-4169, which treats secondary hyperparathyroidism in patients with chronic kidney disease who are on dialysis.

In return, Amgen will acquire...
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