Dezima Pharma, a life sciences company founded by Amsterdam University professor John Kastelein and venture firm Forbion Capital Partners, is to be acquired by pharmaceutical firm Amgen for up to $1.55bn.
The deal will include an upfront payment of $300m, with the remaining $1.25bn allocated to milestone payments.
The company was formed in 2012 off the back of research conducted by Kastelein while at Amsterdam, and was founded in conjunction with Forbion which also helped to build the initial team and provide Dezima’s first round of funding. The company went on to raise $18.6m in 2013 with support from Forbion and venture peers BioGeneration Ventures and New Science Ventures. It also received a $5.66m loan from the Dutch Government.
Dezima is developing a treatment for dyslipidemia, a condition derived from too much insulin where the body overproduces lipids – a major risk factor for cardiovascular disease.
Sander Slootweg, managing partner at Forbion, said: “Dezima is the poster child of a successful modern start-up company. Several of our team and advisors, including Prof. John Kastelein, filled critical management positions, such as interim CEO, CFO and project management. Xention Ltd, one of our UK portfolio companies, designed and executed the required pre-clinical studies and optimized the manufacturing of the product. Today’s acquisition and the value that Amgen has set on the company, validates our belief in the team and the science. Dezima will be a great fit for Amgen and complements its other products targeting high cholesterol.”
