Amgen agrees to buy Dark Blue Therapeutics for up to $840 million

Amgen announced it will acquire Dark Blue Therapeutics, a privately held UK biotech developing small-molecule protein degraders for cancer, in a deal valued at up to $840 million. The lead asset is an investigational molecule for acute myeloid leukemia that is still preclinical. For traders, this is a small early-stage oncology deal relative to Amgen's roughly $37 billion revenue base, and it adds pipeline optionality rather than near-term sales.

• Transaction valued at up to $840 million
• Target is a privately held UK biotech focused on oncology protein degraders
• Lead asset is an investigational small molecule for acute myeloid leukemia (AML)
• Upfront payment and milestone split were not disclosed
• Dark Blue will be folded into Amgen's oncology research organization