Dark Blue Therapeutics acquired by Amgen for up to $840 million

Rhea-AI Summary

Amgen (NASDAQ: AMGN) announced the acquisition of Dark Blue Therapeutics for up to $840 million on Jan 6, 2026. The deal brings DBT 3757, a MLLT1/3-targeted investigational degrader currently in IND-enabling studies, into Amgen's oncology portfolio for development in acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). Amgen plans to integrate Dark Blue into its research organization to accelerate clinical advancement. Investors backing Dark Blue included Oxford Science Enterprises, Bristol Myers Squibb, and Evotec; BofA served as financial advisor.

Positive

• Deal value up to $840 million
• First-in-class mechanism targeting MLLT1/3 added to Amgen oncology
• DBT 3757 in IND-enabling studies (preclinical progress)
• Amgen to integrate Dark Blue into early oncology research

Negative

• Cash consideration contingent on milestones (part of up to $840M)
• DBT 3757 is not yet in clinical trials (IND-enabling stage)
• No human clinical data or regulatory approvals reported to date

Key Figures

Acquisition value $840 million Maximum consideration including upfront and future milestones

Market Reality Check

$330.11 Last Close

Volume Volume 2,188,783 is at 0.77x the 20-day average of 2,834,728 shares. normal

Technical Price 320.72 is trading above the 200-day MA at 297.79.

Peers on Argus

AMGN was down 2.11% with mixed large-cap peers: GILD -2.05%, PFE -0.12%, SNY -0.71%, GSK -0.97%, while BMY rose 0.11%, suggesting stock-specific factors alongside broader pressure.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 19	Pricing & policy	Positive	+0.9%	Announced actions with U.S. government to lower drug costs while investing in U.S.
Dec 11	FDA approval	Positive	+0.1%	FDA approved UPLIZNA for adults with generalized myasthenia gravis.
Dec 09	Dividend announcement	Positive	+0.5%	Declared <b>$2.52</b> per share dividend for Q1 2026 with set record and pay dates.
Nov 24	Conference appearance	Neutral	+2.0%	Planned presentation at Citi's 2025 Global Healthcare Conference with leadership speakers.
Nov 24	Conference appearance	Neutral	+2.0%	Announced participation in Evercore ISI HealthCONx Conference with webcast access.

Pattern Detected

Recent corporate, pricing, and event updates have generally seen modestly positive price reactions.

Recent Company History

Over the last few months, Amgen reported stronger Q3 2025 results with higher total revenues and net income, alongside reduced long-term debt, per its Nov 4, 2025 10-Q. The company maintained shareholder returns with a $2.52 Q1 2026 dividend announced on Dec 9, 2025. Regulatory milestones included FDA approval of UPLIZNA for generalized myasthenia gravis on Dec 11, 2025. Policy-related actions to lower medicine costs and multiple conference presentations rounded out a period of steady, generally well-received news into which this oncology acquisition fits as further pipeline expansion.

Market Pulse Summary

This announcement adds a first-in-class MLLT1/3-targeting program for acute leukemias to Amgen’s oncology pipeline, valuing Dark Blue Therapeutics at up to $840 million including milestones. It follows a period of stronger Q3 2025 financials and continued dividends. Key factors to watch include progress from IND-enabling work into clinical trials, safety and efficacy signals in AML and ALL, and how this targeted protein degradation approach fits alongside Amgen’s broader cancer portfolio and capital allocation priorities.

Key Terms

acute myeloid leukemia medical

"designed to treat Acute Myeloid LeukemiaAcquisition brings a new therapeutic"

A fast‑moving blood cancer that starts in the bone marrow and crowd out healthy blood cell production, leaving the body short of normal red cells, white cells and platelets. It matters to investors because the disease creates urgent medical need, drives demand for new diagnostics and treatments, and so clinical trial results, regulatory decisions and drug pricing can rapidly change the commercial prospects and valuation of companies working on therapies.

acute lymphoblastic leukemia medical

"strategy for acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL)"

A fast-growing cancer of the blood and bone marrow in which the body produces large numbers of immature white blood cells that crowd out healthy blood cells and impair immunity and oxygen transport. Think of a factory suddenly making defective workers that push out skilled staff. For investors, its diagnosis, treatment advances, clinical trial results and drug approvals can drive demand, company valuations and healthcare spending tied to therapies and diagnostics.

IND-enabling studies regulatory

"Dark Blue's lead candidate DBT 3757, currently in IND-enabling studies, represents"

Ind-enabling studies are early research efforts that test whether a new drug or treatment is safe and effective enough to move forward in development. They are like preliminary tests to ensure a product works as intended before investing more resources into large-scale trials. For investors, these studies are important because successful results can signal potential progress toward bringing a new product to market, impacting its future value.

targeted protein degradation medical

"DBT 3757, a targeted protein degradation therapeutic, reach this important milestone."

Targeted protein degradation is a drug approach that uses small molecules to mark harmful or malfunctioning proteins inside cells so the cell’s own disposal system breaks them down, rather than simply blocking their activity. For investors, it matters because this method can potentially tackle diseases that traditional drugs cannot reach, offering a new class of therapies with broad commercial and patent potential—like switching from silencing a problem to removing it entirely.

Super Elongation Complex medical

"designed to degrade MLLT 1/3 proteins in the Super Elongation Complex, demonstrating"

A super elongation complex is a multi-protein assembly that helps the cell’s machinery continue copying genes into messenger RNA by overcoming pauses during transcription. It matters to investors because drugs or diagnostics that alter this complex can change how diseases such as cancer or viral infections progress, making it a potential target for therapies whose success can materially affect a company’s future revenue—think of it like the crew that keeps a train moving smoothly along its route.

AI-generated analysis. Not financial advice.

• Lead candidate in the MLLT1/3 programme, DBT 3757, is a differentiated investigational molecule designed to treat Acute Myeloid Leukemia
• Acquisition brings a new therapeutic mechanism to Amgen's extensive cancer portfolio – Dark Blue has pioneered the biology of targeting MLLT1/3, and DBT 3757 is designed to degrade MLLT 1/3 proteins in the Super Elongation Complex, demonstrating strong anti-cancer activity across a wide range of leukemia models
• Acquisition values Dark Blue Therapeutics at up to $840 million, including upfront and future milestones

OXFORD, England, Jan. 6, 2026 /PRNewswire/ -- Dark Blue Therapeutics ("Dark Blue"), a discovery and development biotech company pioneering the next generation of precision oncology medicines, has been acquired by Amgen (NASDAQ: AMGN).

Dark Blue's lead candidate DBT 3757, currently in IND-enabling studies, represents a first-in-class therapeutic strategy for acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL), with the potential for producing strong, broad and durable responses as an effective single-agent therapy. In addition, its favourable safety profile suggests it could serve as a foundation for combination treatments earlier in the therapeutic course.

Leveraging partnerships with world-leading academic experts, Dark Blue has been able to translate cutting-edge discoveries into previously unexploited Achilles-heel vulnerabilities and dependencies in cancer. The MLLT 1/3 programme's scientific foundation is rooted in unique insights from Oxford University and was awarded pre-seed funding from the 'LAB282' initiative. Dark Blue has been strongly supported by investors Oxford Science Enterprises (OSE), Bristol Myers Squibb (BMS) and Evotec.

"Amgen has the expertise, resources and commitment to accelerate development of DBT 3757 to treat patients with acute leukemia, including those that do not respond to current standard therapies. With its world-leading capabilities in oncology and deep experience in developing, manufacturing, and commercializing novel medicines, we are confident that Amgen will build on our pre-clinical work to bring DBT 3757 to the patients who urgently need new treatment options," commented Alastair MacKinnon, CEO of Dark Blue Therapeutics: "We extend our sincere thanks to the entire Dark Blue team for their dedication and hard work, and to our investors OSE, BMS, and Evotec, whose invaluable support has made this achievement possible."

"Acute myeloid leukemia remains one of the most difficult cancers to treat, and we see an urgent need for new mechanisms capable of changing the trajectory of this disease," said Jay Bradner, M.D., executive vice president of Research and Development at Amgen. "This acquisition complements and extends our research in targeted protein degradation and leukemia therapeutics, advancing our strategy to invest early in rising medicines for novel therapeutic targets. The adjacency of this program to our considered expertise in cancer biology will propel MLLT1/3-targeting medicines to clinical investigation for patients facing the challenging diagnosis of AML."

Amgen expects to integrate Dark Blue Therapeutics into its existing research organization, further strengthening the company's early oncology discovery efforts.

Craig Fox, Oxford Science Enterprises Board Representative, added, "As early supporters of Dark Blue, we are delighted to see the Company's lead candidate, DBT 3757, a targeted protein degradation therapeutic, reach this important milestone. From the outset, we believed that targeting MLLT1/3 represents a first-in-class therapeutic strategy for patients with AML and ALL, and the progress made to date has strengthened that conviction. The acquisition by Amgen, a world-leading pharmaceutical company, is a strong validation of Dark Blue's science, team, and vision. We look forward to seeing this promising therapy advance swiftly into clinical development and ultimately reach patients living with this devastating disease."

BofA Securities acted as exclusive financial advisor to Dark Blue Therapeutics in this transaction.

Goodwin Procter acted as legal counsel to Dark Blue Therapeutics in this transaction.

For the Amgen press release, see: https://www.amgen.com/newsroom

Contact:
Dark Blue Therapeutics
Mo Noonan (PR Advisor to Dark Blue Therapeutics) 
mo@mopradvisory.com 

About Dark Blue Therapeutics

Dark Blue Therapeutics is a discovery and development biotech spinout from the University of Oxford pioneering the next generation of precision oncology medicines. The company leverages partnerships with world-class academic experts to exploit insights in novel Achilles heel vulnerabilities and dependencies in cancer. The highly experienced management team have decades of experience in Pharma covering the full spectrum of R&D and have developed a precision medicine approach that is applicable to a broad range of cancer mechanisms. Dark Blue's focus is on the most high-value drug targets, paired with the most effective chemistry to build a pipeline of transformational first-in-class drugs. The lead programme, a MLLT1/3 degrader is in development as a monotherapy and in combination for patients with acute myeloid leukemia (AML) and solid cancers with a second discovery programme targeting ADAR1 inhibition. The major shareholders in Dark Blue were Oxford Science Enterprises, Bristol Myers Squibb and Evotec.

To find out more, see our website: https://www.darkbluetx.com

View original content:https://www.prnewswire.com/news-releases/dark-blue-therapeutics-acquired-by-amgen-for-up-to-840-million-302653960.html

SOURCE Dark Blue Therapeutics

FAQ

What did Amgen announce about acquiring Dark Blue Therapeutics on Jan 6, 2026?

Amgen announced it will acquire Dark Blue Therapeutics for up to $840 million, adding DBT 3757 to its oncology pipeline.

What is DBT 3757 and what stage is it at for AMGN investors?

DBT 3757 is a MLLT1/3-targeted protein degrader for AML/ALL and is currently in IND-enabling studies (preclinical).

How does the Dark Blue acquisition affect Amgen's cancer research strategy (AMGN)?

The deal expands Amgen's targeted protein degradation and leukemia programs and will be integrated into Amgen's early oncology discovery efforts.

Does the $840 million price include future milestones for AMGN shareholders to note?

Yes; the up to $840 million figure includes upfront consideration plus future milestone payments.

Who advised Dark Blue in the transaction with Amgen (AMGN)?

BofA Securities acted as exclusive financial advisor and Goodwin Procter served as legal counsel to Dark Blue.