Amgen to Acquire deCODE Genetics for $415 Million

Amgen acquires deCODE genetics

Amgen acquires deCODE genetics

Amgen, the California based biotech company, announced that it will be acquiring deCODE genetics based at Reykjavik, Iceland for $415 Million. deCode was founded in 1996 and used the unique Iceland population to identify genes associated with various diseases, including schizophrenia and cancer. deCode is also a major player in personal genetics industry and offers deCODEMe product that does genetic scans to look for risks over 47 diseases.

deCODE genetics was the first commercial company to launch a personal genomics product, deCODEme for $985, on 16 November 2007.  Just a few days later 23andMe launched its personal genetics product.  In the press release announcing the acquisition, Robert A. Bradway, president and CEO at Amgen, said

deCODE Genetics has built a world-class capability in the study of the genetics of human disease. This capability will enhance our efforts to identify and validate human disease targets. This fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programs based on less well-validated targets.

Founded in 1996, deCODE Genetics is a global leader in analyzing and understanding the link between the genome and disease susceptibility. Using its unique expertise and access to a well-defined population in Iceland, deCODE Genetics has discovered genetic risk factors for dozens of diseases ranging from cardiovascular disease to cancer.

Kari Stefansson, M.D., Dr. Med., founder and CEO at deCODE Genetics, said

One of the ways to truly realize the full value of human genetics, is to make our research synergistic with drug development efforts where target discovery, validation and prioritization efforts can be accelerated. We believe Amgen’s focus and ability to incorporate our genetic research into their research and development efforts will translate our discoveries into meaningful therapies for patients.

Twitter Reactions on Amgen’s deCODE acquisition

Overall the general reaction from scientists to the acquisition news is somber. Here are a few reactions on the twitter

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  1. […] the other two major players Navigenics and deCODE are kind of out of competition. Just yesterday, deCODE was acquired by Amgen. While Navigenics was acquired by Life Technologies earlier this […]

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