Amgen and Cytokinetics, a clinical-stage biopharmaceutical company, have expanded their strategic collaboration to include Japan. In 2006, Cytokinetics and Amgen entered into a collaboration to discover, develop and commercialize novel small-molecule therapeutics that activate cardiac muscle contractility for potential applications in the treatment of heart failure. Omecamtiv mecarbil is the most advanced drug candidate in this collaboration.
Cytokinetics will receive $25 million from Amgen comprised of a non-refundable license fee of $15 million and $10 million for Amgen's purchase of Cytokinetics' common stock.
Cytokinetics is eligible to receive additional pre-commercialization payments for the development of omecamtiv mecarbil in Japan of $50 million as well as royalties on sales. Cytokinetics plans to conduct a phase I pharmacokinetic study, the costs of which will be reimbursed by Amgen, intended to support the inclusion of Japanese patients in a potential phase III clinical development program for omecamtiv mecarbil.
"Our decision to amend the agreement at this time is based on our confidence in the progress of our collaborative development program for omecamtiv mecarbil and on Amgen's recent commitment to expand its business activities in Japan,” said Robert I. Blum, Cytokinetics' president and chief executive officer.