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ONX 0914

Amgen, Inc.

Drug Names(s): PR-957

Description: ONX 0914 is being developed to be an inhibitor of the immunoproteasome, with minimal cross-reactivity for the constitutive proteasome. Recent evidence suggests that the immunoproteasome regulates the production of several inflammatory cytokines, including Tumor Necrosis Factor-alpha(TNF-alpha), Interleukin-6 (IL-6), IL-17, and IL-23.

Deal Structure: Onyx and Proteolix
ONX 0914 (PR-957) was originally developed by Proteolix.

In October 2009, Onyx Pharmaceuticals announced that it signed a definitive agreement to acquire Proteolix. This acquisition completed in November 2009.

Onyx and Amgen
In August 2013, Amgen and Onyx announced that their Boards of Directors have unanimously approved a transaction under which Amgen will acquire all of the outstanding shares of Onyx for $125 per share in cash. The purchase price is $10.4 billion, or $9.7 billion net of estimated Onyx cash. Amgen intends to effect the transaction through a tender offer.

In October 2013, Amgen announced that it has successfully completed its previously announced tender offer to purchase all outstanding shares of common stock of Onyx for $125 per share in cash. As announced on August 25, the purchase price is $9.7 billion net of estimated Onyx cash. The tender offer expired at 12:00 midnight New York City time on Oct. 1, 2013....See full deal structure in Biomedtracker

ONX 0914 News

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