Amgen Buys Cancer Drug Developer Dark Blue in $840 Million Deal

Amgen Inc. has acquired cancer drug developer Dark Blue Therapeutics Ltd. in a deal worth as much as $840 million, expanding its portfolio of oncology treatments.

Based in the UK, closely held Dark Blue is testing a class of drugs known as protein degraders, which have become a hot target for companies including Novartis AG and Gilead Sciences Inc. Its most advanced compound, which has yet to enter clinical trials, could offer a new type of treatment for acute myeloid leukemia, a fast-growing blood cancer.

“This acquisition complements and extends our research in targeted protein degradation and leukemia ...