Amgen and Kleiner Perkins Caufield & Byers partner to create new spin-out biotech company
Amgen to License Pipeline Assets to Newly Formed Company
THOUSAND OAKS, Calif. and MENLO PARK, Calif. (Oct. 25, 2012) – Amgen and Kleiner Perkins Caufield & Byers (KPCB) today announced the formation of Atara Biotherapeutics, (www.atarabio.com), a new drug development company with a focus on innovative therapies for patients with chronic diseases in therapeutic areas including nephrology and
oncology. Atara Biotherapeutics will have licenses to six Amgen assets, which are in various stages of development, ranging from preclinical to Phase 1. Financial terms of the transaction are not being disclosed.
Atara Biotherapeutics will be financed initially by KPCB, and Isaac Ciechanover, M.D., a former partner at KPCB, will serve as the president and chief executive officer. Amgen will have a minority equity interest in Atara Biotherapeutics.
"Amgen is excited to partner with KPCB to help advance molecules in Amgen's pipeline that have the potential to treat serious illnesses," said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. "With facilities in both the Bay Area and near Amgen's Thousand Oaks campus, Atara Biotherapeutics will provide the opportunity to further foster biotechnology innovation in Amgen's communities."
"We look forward to building on Amgen's research to bring a promising group of therapeutics to patients with serious illnesses," said Ciechanover.
About Amgen
Amgen discovers, develops, manufactures and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, bone disease and other serious
illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com. Follow us on www.twitter.com/amgen.
About Kleiner Perkins
Kleiner Perkins Caufield & Byers (KPCB) has backed entrepreneurs in more than 500 ventures leading to 150 IPOs, 350,000 jobs and a deep strategic network. The firm has helped build pioneering companies like Align, Amazon, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Symantec, VeriSign and WebMD. KPCB partners serve on the boards of Amazon, Apple, Bloom Energy, Flipboard, Foundation Medicine, Google, Hewlett-Packard, Nest, Square, Tesaro and Zynga, among others. KPCB accelerates the success of entrepreneurs with a team of partners delivering company-building services including strategy, operational scaling, recruiting, business development and product delivery. The firm invests in all stages from seed and incubation to growth companies. KPCB operates from offices in Menlo Park, San Francisco, Shanghai and Beijing.
http://www.kpcb.com.
Forward-Looking Statements
This news release contains forward-looking statements that involve
significant risks and uncertainties, including those discussed below
and others that can be found in Amgen's Form 10-K for the year ended
Dec. 31, 2011, and in its periodic reports on Form 10-Q and Form 8-K.
Amgen is providing this information as of the date of this news
release and does not undertake any obligation to update any
forward-looking statements contained in this document as a result of
new information, future events or otherwise.
No forward-looking statement can be guaranteed and actual results may
differ materially from those Amgen projects. Amgen's results may be
affected by Amgen's ability to successfully market both new and
existing products domestically and internationally, clinical and
regulatory developments (domestic or foreign) involving current and
future products, sales growth of recently launched products,
competition from other products (domestic or foreign), difficulties or
delays in manufacturing its products. In addition, sales of Amgen
products are affected by reimbursement policies imposed by third-party
payors, including governments, private insurance plans and managed
care providers and may be affected by regulatory, clinical and
guideline developments and domestic and international trends toward
managed care and healthcare cost containment as well as U.S.
legislation affecting pharmaceutical pricing and reimbursement.
Government and others' regulations and reimbursement policies may
affect the development, usage and pricing of Amgen products.
Furthermore, Amgen's research, testing, pricing, marketing and other
operations are subject to extensive regulation by domestic and foreign
government regulatory authorities. Amgen or others could identify
safety, side effects or manufacturing problems with Amgen products
after they are on the market. Amgen's business may be impacted by
government investigations, litigation and products liability claims.
Further, while Amgen routinely obtains patents for its products and
technology, the protection offered by its patents and patent
applications may be challenged, invalidated or circumvented by its
competitors. Amgen depends on third parties for a significant portion
of its manufacturing capacity for the supply of certain of its current
and future products and limits on supply may constrain sales of
certain of its current products and product candidate development. In
addition, Amgen competes with other companies with respect to some of
its marketed products as well as for the discovery and development of
new products. Discovery or identification of new product candidates
cannot be guaranteed and movement from concept to product is
uncertain; consequently, there can be no guarantee that any particular
product candidate will be successful and become a commercial product.
Further, some raw materials, medical devices and component parts for
Amgen products are supplied by sole third-party suppliers. Amgen's
business performance could affect or limit the ability of its Board of
Directors to declare a dividend or its ability to pay a dividend or
repurchase its common stock.
CONTACT:
Amgen, Thousand Oaks
Kristen Davis, 805-447-3008 (media)
Arvind Sood, 805-447-1060 (investors)
Kleiner Perkins Caufield & Byers
Aman Battish, Brunswick Group, 415-671-7676 (media)