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Amgen Completes Acquisition Of Five Prime Therapeutics

By John F. Heerdink, Jr.

Reportedly, Amgen (AMGN) has successful completed its previously announced tender offer to purchase all outstanding shares of common stock of Five Prime Therapeutics for $38 per share in cash. Five Prime Therapeutics is a clinical-stage biotechnology company working on developing immuno-oncology and targeted cancer therapies.

Amgen will  pay approximately $1.9 billion to complete the tender offer and the subsequent merger without giving effect to related transaction fees and expenses. The completion of the tender offer will follow Franklin Acquisition Sub, Inc., a wholly-owned subsidiary of Amgen, to be merged with and into Five Prime, with Five Prime surviving the merger.

“Five Prime fits squarely within Amgen’s leading oncology portfolio and includes bemarituzumab, a Phase 3 trial-ready, first-in-class program for gastric cancer, the third leading cause of cancer mortality worldwide. Working with the dedicated professionals joining us from Five Prime, we plan to quickly move bemarituzumab into a Phase 3 study, bringing it one step closer to helping patients suffering from gastric cancer,” stated Robert A. Bradway, chairman, and chief executive officer at Amgen.

If you liked this story please consider, visiting the Atossa Therapeutics (ATOS) dedicated page at Vista Partners to learn about the Seattle-based biotech firm’s work towards finding therapeutic treatments for Breast Cancer and the Coronavirus. 

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Amgen Successfully Completes Acquisition Of Five Prime Therapeutics in PR Newswire)


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