Amgen Acquires Dark Blue Therapeutics in $840 Million Cancer Drug Deal

Amgen Inc. has acquired cancer drug developer Dark Blue Therapeutics Ltd. in a deal valued at up to $840 million, broadening its oncology research portfolio. The privately held UK-based firm is advancing targeted protein degraders, a novel class of drugs that could offer a new treatment option for acute myeloid leukemia (AML) according to Bloomberg.

The acquisition adds an investigational molecule to Amgen's pipeline that targets two proteins (MLLT1/3) implicated in AML. Preclinical studies show promising anti-cancer activity and potential for both standalone and combination therapies.

Amgen's move comes as it faces the loss of patent protection for key drugs like Kyprolis, which is scheduled to lose exclusivity in 2027. The company has been seeking growth through acquisitions and early-stage innovation in high-potential therapeutic areas such as protein degraders according to Bloomberg.

Why Did This Happen?

The protein degrader technology is gaining traction among major drugmakers, including Novartis AG and Gilead Sciences Inc. These drugs work by leveraging the cell's waste management system to remove disease-causing proteins. Dark Blue's approach targets specific proteins linked to AML, a disease with limited treatment options according to Bloomberg.

Amgen's executive vice president of research and development, Jay Bradner, said the acquisition complements its strategy to invest in early-stage, novel therapies. He noted the urgent need for new mechanisms to treat AML and the potential for Dark Blue's molecule to enhance treatment durability according to Bloomberg.

How Did Markets React?

The cell and gene therapy market is expanding rapidly, with projections for over $183 billion in value by 2035. High-value M&A activity has increased in the sector, with major pharma companies acquiring biotechs with promising clinical assets. In 2025 alone, there were significant deals involving companies like AbbVie, Eli Lilly, and BioNTech according to Astute Analytica.

Amgen's acquisition of Dark Blue fits into this broader trend. The company has been aggressively acquiring smaller firms to secure access to cutting-edge platforms and early-stage therapies. This strategy is aimed at maintaining its competitive edge in oncology as patent expirations loom according to Bloomberg.

What Are Analysts Watching Next?

Analysts are monitoring how Amgen integrates Dark Blue's technology into its existing research infrastructure. The company plans to bring the molecule into clinical trials, with potential regulatory submissions for a BLA and MAA in the second half of 2026 according to Seeking Alpha.

Regulatory risks remain a key factor. Even if the molecule shows strong preclinical results, there is no guarantee that the FDA or EMA will accept or approve the application according to Seeking Alpha.

Competition is also a concern. Amgen's Kyprolis faces generic competition and is losing patent protection in 2027. The acquisition of Dark Blue is part of a broader strategy to offset such losses with novel therapies according to Bloomberg.

The deal is consistent with Amgen's long-term vision of investing in early-stage innovation. The company has positioned itself as a leader in protein degradation research and is now extending that expertise into AML treatment according to Bloomberg.

The market is watching closely to see if Amgen can successfully develop and commercialize the new molecule. Given the high unmet need in AML and the innovative nature of protein degraders, success could position Amgen as a leader in a rapidly evolving segment of oncology according to Bloomberg.