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Amgen (AMGN) To Acquire Avidia, Inc., A Privately Held Biopharmaceutical Company In The San Francisco Bay Area; $290 Million Cash


9/29/2006 9:57:59 AM

THOUSAND OAKS & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Amgen (NASDAQ:AMGN) today announced that it has entered into a definitive merger agreement under which Amgen has agreed to acquire Avidia, a privately held biopharmaceutical company that discovers and develops a new class of human therapeutic known as Avimer™ proteins. The transaction provides Amgen with Avidia’s lead product candidate, an inhibitor of interleukin 6 (IL-6) for the treatment of inflammation and autoimmune diseases, which is in Phase 1 clinical trials.

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