Case Western Reserve University biotech startup Rodeo Therapeutics Corp. sold to Amgen Inc.

Rodeo Therapeutics Corp., a drug-development startup founded by two leading researchers from the Case Western Reserve University School of Medicine and a third scientific partner, has been sold to Amgen Inc., a publicly traded international biopharmaceutical company.

Under terms of the agreement, Amgen, based in Thousand Oaks, California, will acquire all outstanding shares of Rodeo for $55 million, plus “future contingent milestone payments potentially worth up to an additional $666 million in cash,” the companies announced today. Total consideration to Rodeo stakeholders could potentially be worth up to $721 million in cash.

Preclinical testing of inhaled monoclonal antibody for COVID-19 shows therapeutic efficacy

An inhaled monoclonal antibody treatment against the SARS-CoV-2 virus may lead to self-administered therapy for COVID-19, according to preclinical tests. It was discovered at UAB and the Texas Biomedical Research Institute, and it has been licensed for development to Aridis Pharmaceuticals.