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news.Amgen, a biotechnology company, is exercising an option to acquire the rights to an experimental drug 'CK-1827452' from Cytokinetics. The drug, which is currently undergoing mid-stage clinical trial, will be used for the treatment of heart failure.
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Cytokinetics will receive $50 million, and is expected to receive up to $600 million in future payments depending on the success of the drug, reported Reuters.
Amgen has paid $75 million to Cytokinetics earlier for the option to the drug and will exercise the option after examining further results of the clinical trial.
Amgen discovers, manufactures, and delivers human therapeutics. The company is focused on the development of medicine for cancer, kidney disease, rheumatoid arthritis, and other serious illnesses.