Amgen (AMGN) Completes Acquisition Of Avidia, Inc.
10/25/2006 11:58:56 AM
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Amgen (NASDAQ:AMGN), today announced the completion of the acquisition of 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. The acquisition was initially announced on Sept. 29.