Icelandic genetic research company deCODE Genetics was sold to pharmaceutical manufacturing company Amgen today for ISK 52 billion (USD 415 million, EUR 317 million). The all-cash transaction was unanimously approved by the Amgen board of directors. The sale is expected to close before the end of the year.
From the lab at deCode. Photo by Páll Stefánsson.
CEO of Amgen Robert A. Bradway said in a press release that deCODE Genetics had built a world-class capability in the study of the genetics human disease. “This capability will enhance our efforts to identify and validate human disease targets,” he added.
Founder and CEO of deCODE Genetics Kári Stefánsson said the deal would enable the company’s research to translate into therapies for patients. “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,” said Kári.
“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,” he added.
DeCODE Genetics was founded in Reykjavík in 1996 and is considered a global leader in analyzing and understanding the link between the genome and disease susceptibility. The company has discovered genetic risk factors for various diseases including cardiovascular disease and cancer.
Amgen is headquartered in Thousand Oaks, California.
Click here to read more recent news from deCODE.
Click here to learn about our custom made photo book Iceland 2012 with the best pictures of the year.