Tech Transfer eNews Blog

Amgen to invest $240M in U of Michigan start-up targeting autoimmune conditions

By Jesse Schwartz
Published: January 20th, 2021

Pharma giant Amgen is investing big money in a University of Michigan (U-M) start-up that is developing novel molecules they hope will lead to new treatments for autoimmune conditions.

Based on the work of U-M researchers James Moon and Anna Schwaenteman, the start-up Evoq Therapeutics has created a high-density lipoprotein platform, known as NanoDisc, to target inflammatory autoimmune diseases.

Amgen has agreed to pay $240 million, as well as milestone payments, to advance Evoq’s portfolio, which includes molecules targeting type 1 diabetes and MOG antibody disease, a recently coined condition that can cause neuro-spinal swelling and is often misdiagnosed as multiple sclerosis.

The full extent of Amgen’s interest in Evoq’s portfolio hasn’t been disclosed. According to U-M president Greg Barrett, Amgen is looking at “select disease spaces” for the start-up’s potential molecules.

The two companies have also agreed to co-develop any preclinical candidates identified with Amgen. From there, the pharma giant would manage clinical development and commercialization, paying certain royalties to Evoq if the candidates go to market successfully.

Source:  Endpoint News

Posted under: Tech Transfer e-News

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