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Amgen Closes Deal With Financial Firm to Open New Biotech Company

BRIEF: Amgen Closes Deal With Financial Firm to Open New Biotech Company

[Ventura County Star, Calif.]

From Ventura County Star (CA) (October 26, 2012)

Oct. 26--Thousand Oaks-based drug maker Amgen Inc. on Thursday announced it has partnered with a global financial firm to launch a new biotech company focusing on chronic diseases.

Amgen and Kleiner Perkins Caufield & Byers closed the deal this week to form Atara Biotherapeutics, a drug company that will focus on development of therapies for cancer and kidney diseases.

Amgen will have a minority equity in Atara, while KPCB will initially finance the venture. Dr. Isaac Ciechanover, a former partner at KPCB, will serve as Atara’s president and chief executive officer.

"We look forward to building on Amgen’s research to bring a promising group of therapeutics to patients with serious illnesses," Ciechanover said in a news release.

Financial terms of the transaction were not disclosed. Atara will have licenses to six Amgen assets, which are in various stages of development, Amgen officials said.

The new company has already opened an office in Westlake Village, Amgen officials said.


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Posted: October 2012