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12:00 AM
 | 
Jan 08, 2007
 |  BioCentury  |  Strategy

The right structure

Cytokinetics Inc. could get $125 million from Amgen Inc. before the latter even touches CYTK's CK-1827452, a cardiac myosin activator that has completed two Phase I studies in heart failure. But what CYTK President Robert Blum likes most about the deal is the structure of the co-promotion rights.

AMGN (Thousand Oaks, Calif.) paid CYTK $75 million up front for an option to license CK-1827452, including $33 million in an equity purchase.

CYTK (South San Francisco, Calif.) will pay for a Phase IIa trial that it expects to begin in early 2007. But if AMGN likes what it sees, it will need to pay out another $50 million...

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