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Business
Amgen to buy biotech Avidia
October 9, 2006
| A version of this story appeared in
Volume 84, Issue 41
Amgen has agreed to acquire Avidia, a California-based biotech company that discovered a new class of human therapeutics known as Avimer proteins, for $290 million. Amgen will pay an additional $90 million upon the completion of certain performance milestones. Avidia focuses on therapies consisting of single protein chains composed of modular binding sites, like beads on a string. Each bead is designed to bind to a particular target site, affording greater control of the amount of a drug reaching specific targets.
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