Issue Date: October 19, 2009
Onyx To Buy Proteolix
Onyx Pharmaceuticals has signed a definitive agreement to acquire South San Francisco-based biopharmaceutical firm Proteolix for $276 million in cash. The acquisition would extend Onyx' current franchise in the treatment of liver and kidney cancer to the treatment of hematological malignancies. Proteolix' lead compound, carfilzomib, is a small-molecule proteasome inhibitor now in clinical trials to treat patients with multiple myeloma. The blood disease affects more than 180,000 people worldwide. Onyx, based in Emeryville, Calif., now sells Nexavar, a multiple kinase inhibitor to treat liver and kidney cancer, in partnership with Bayer HealthCare.
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