As reported by Chemical and Engineering News, the leading Biotechnology company, Amgen and biopharmaceutical company, Celgene are making steps to strengthen their oncology drug pipelines through acquisitions.
Amgen is set to pay $1.2 for Micromet, an innovative biopharmaceutical company which concentrates on developing oncology drugs. Their technologies focus on antibody technology (BiTE) which work by binging both tumour cells and T cells which causes the cancer cell to die.
Celgene is acquiring Avila Therapeutics for $925 million. Avila are the first company to design and develop targeted covalent drugs robustly. These drugs are able to both inhibit and silence disease-causing proteins.