Amgen Acquires Oxford Spinout Dark Blue Therapeutics for Up to $840 Million, Gaining Preclinical Cancer Drug
Amgen acquired Dark Blue Therapeutics, a University of Oxford spinout, in a deal worth up to $840 million (£622m), announced on January 6, 2026.
Dark Blue's lead candidate DBT 3757 is a first-in-class targeted protein degrader targeting MLLT1/3 vulnerabilities in acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL), currently in IND-enabling preclinical studies.
The drug shows promising anti-cancer activity as a single-agent therapy with potential for combinations and a favorable safety profile.
Dark Blue was backed by investors including Oxford Science Enterprises (OSE), Bristol Myers Squibb (BMS), and Evotec.
Amgen plans to integrate Dark Blue into its research organization to advance the program, complementing its oncology and protein degradation efforts.
This is the first major biotech M&A of 2026 and the second big exit for OSE in six months.