Forbion Capital Partners announced another exit from its Forbion Capital Fund I as a result of the acquisition of Alantos Pharmaceuticals, Inc. by Amgen, Inc. It is the fifth exit for the fund since 2005, having realised its stakes in Glycart (2005), Borean (2006), Acorda (2006) and most recently Galapagos (2006).
Alantos is a private company developing drugs for the treatment of diabetes and inflammatory diseases. Its lead drug candidate, ALS 2-0426, is a DPP-IV inhibitor in Phase IIa clinical development for the treatment of Type II diabetes. Forbion first invested in 2003 and followed on in 2005.
Amgen is paying $300 million in cash to acquire Alantos.