Collaborative Agreement Between Amgen Inc. and Tularik Inc.
Amgen Inc., with over 10,000 employees and an annual turnover of 5 bill. US$ (4,4 bill. Euro) in 2002, is the largest independent biotechnology company in the world. Founded in 1980, its main headquarters is based in Thousand Oaks, California. The company researches, produces and distributes pharmaceuticals that have been developed using state-of-the-art genetic engineering and cytology. In 1989, Amgen was the first to market Erythropoetin for dialysis and cancer patients. Currently, Amgen has several approved products on the market and in 2002 it invested 1.1 bill. US$ (0.96 bill. Euro) into research, that is 20 percent of its turnover. In addition to its concentration on haematology and oncology, the company is also placing emphasis on the fields of nephrology, rheumatology, diabetes, endocrinology, neurology and cell therapy. The market capitalization of the stock exchange listed company (Nasdaq: AMGN) was about 62.5 bill. US$ (55 bill. Euro) at the end of 2002. Germany has been represented by Amgen GmbH in Munich since 1989. The AMGEN-stock has been listed on the European computer exchange, EASDAQ, since the year 2000.
Tularik Inc. was founded in 1991 and is located in San Francisco, CA. The company has approx. 400 employees worldwide, 85 percent of whom are employed in research. There are four branches of the company, one of which has been located in BioPark since 2000, Tularik Deutschland GmbH. Tularik is a young and innovative biotechnology company that has made its goal the development of pharmacological agents that can influence gene regulation. Through a primarily automated procedure, the targeted screening of minute molecular substances, which can be used in the development of new treatment approaches i.e. cancer treatment, has been made possible. This automate high flow-rate procedure (high-throughput-screening, HTS) makes the identification of pharmacologically active routing substances, in millions of assays, possible in a very short amount of time. Currently, there are over 100 projects being processed, four substances are already being tested (i.e. cancer, immune diseases, diabetes). The stock market listed company (Nasdaq: TLRK) was recently valued at 1,15 bill. US$ (1 bill. Euro) and is being advised by Goldman Sachs Group Inc.
Both of the companies now have a considerable collaborative agreement in the field of oncology, which will combine their complementary strengths. Tularik will provide the goal molecules, so-called targets, with these Amgen will develop, produce and distribute pharmaceuticals. The agreement contains milestones, with which Tularik will receive 21 mill. US$ (18.5 mill. Euro) per substance. Furthermore, Amgen will invest 50 mill. US$ (44 mill. Euro), for the development and patenting of new substances at Tularik, over the next five years. The acquired Tularik shares should increase in value by 40 mill. US$ (35.2 mill. Euro) over the next three years. Tularik will receive a total 125 mill. US$ (110 mill. Euro) through the collaborative effort with Amgen. Tularik’s expertise in the field of oncology was further strengthened through accreditation by the National Cancer Institute, NCI. It is funding the further development of two anti-cancer substances, in the Tularik oncology program, with 0.5 mill. US$ (0.44 mill. Euro).
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