Amgen (AMGN) Exercises Option for Exclusive License to Cytokinetics' (CYTK) Cardiac Contractility Program That Includes CK-1827452
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Cytokinetics Incorporated (Nasdaq: CYTK) and Amgen Inc. (Nasdaq: AMGN) announced that Amgen has exercised its option to obtain an exclusive license, worldwide (excluding Japan), to Cytokinetics' cardiac contractility program. The license includes CK-1827452, a novel cardiac myosin activator being developed for the treatment of heart failure.
Under the terms of the companies' 2006 collaboration and option agreement, Amgen has agreed to pay Cytokinetics a non-refundable exercise fee of $50 million and has assumed responsibility for development and commercialization of CK-1827452 and related compounds, at its expense, subject to specified development and commercial participation rights of Cytokinetics.
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