Monday, April 27, 1998
After six months of looking for a partner for its inflammation
research programs located at the former Synergen facilities in Boulder, Colo.,
Amgen Inc. has decided to stop looking. Boulder employees now will seek funding
for a new company to house the discovery research efforts abandoned by AMGN.
But if the biotech giant itself could not find takers, they may be fighting
an uphill battle.
AMGN (Thousand Oaks, Calif.) would not disclose specifics of
its search for a partner to help fund development expenses at Boulder (see
BioCentury, Sept. 8, 1997). "It's basically a matter of having spent six
months looking for a partnership and being unable to find someone who sufficiently
valued the upside and was willing to invest sufficient resources to fund the
program," said spokesperson David Kaye.