Amgen to buy Oxford biotech Dark Blue Therapeutics for up to €718 million
Amgen has agreed to acquire Oxford-based Dark Blue Therapeutics in a transaction valued at up to €718 million (about $840 million), strengthening the U.S. biotech giant’s early-stage oncology pipeline and expanding its work in leukemia drug development.
The deal centers on Dark Blue’s lead programme, DBT 3757, a first-in-class candidate currently in IND-enabling studies aimed at acute leukemias. The company says the therapy has the potential to deliver strong and durable efficacy as a single agent and could also serve as a foundation for earlier use in combination regimens, depending on clinical outcomes.
Why DBT 3757 matters in acute leukemia
Dark Blue, founded in 2020, is focused on precision oncology medicines derived from cancer biology insights linked to Oxford University. Its lead asset targets the MLLT1/3 programme and is positioned as a novel approach for both acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL).
The company argues that its science translates cutting-edge academic discovery into drug candidates that exploit previously under-addressed “Achilles-heel” dependencies in cancer. The MLLT1/3 programme’s early scientific foundation was supported by pre-seed funding from the LAB282 initiative.
Executives: speed to clinic and strategic fit
Alastair MacKinnon, CEO of Dark Blue Therapeutics, said the acquisition will help accelerate development for patients with acute leukemia, including those who do not respond to existing standards of care.
“Amgen has the expertise, resources and commitment to accelerate development of DBT 3757 to treat patients with acute leukemia, including those that do not respond to current standard therapies,” MacKinnon said, adding that Amgen’s oncology capabilities and experience in development, manufacturing and commercialization make it well-positioned to advance the programme.
From Amgen’s side, Jay Bradner, M.D., executive vice president of Research and Development, pointed to the ongoing need for new mechanisms in AML and framed the purchase as aligned with the company’s work in targeted protein degradation and leukemia therapeutics.
“Acute myeloid leukemia remains one of the most difficult cancers to treat, and we see an urgent need for new mechanisms capable of changing the trajectory of this disease,” Bradner said. He added that the acquisition complements Amgen’s research strategy of investing early in novel therapeutic targets and should help propel MLLT1/3-targeting medicines toward clinical investigation.
Backers and the Oxford ecosystem
Dark Blue has been backed by Oxford Science Enterprises (OSE), Bristol Myers Squibb (BMS) and Evotec, reflecting a mix of university-linked venture support, strategic pharma interest and drug development partnership expertise.
Craig Fox, an Oxford Science Enterprises board representative, called the acquisition a validation of Dark Blue’s science and team, highlighting the progress of DBT 3757 and the thesis that targeting MLLT1/3 could represent a first-in-class strategy for AML and ALL.
MacKinnon also thanked the company’s team and investors, citing their support in reaching what he described as a significant milestone for the programme.
European oncology funding context underscores strategic interest
The acquisition arrives amid sustained investor attention to oncology and adjacent biotech platforms across Europe. In 2025, several large rounds signaled continued capital availability for cancer-focused innovation, including Tubulis (€308 million Series C for antibody-drug conjugates), Adcytherix (€105 million Series A for ADC-based therapies) and Artios Pharma (€99 million Series D to expand its precision oncology pipeline).
The UK has also remained active, with raises such as CHARM Therapeutics (€68.5 million for AI-driven drug discovery) and T-Therapeutics (€27.5 million for immuno-oncology programmes). Elsewhere, deals included Hedera Dx in Switzerland (€15 million for precision oncology diagnostics), Adaptam Therapeutics in Spain (€3 million pre-seed to target tumour-associated immune cells) and Sweden’s Lithea (€851,000 for tumour-targeted therapies).
Those disclosed rounds total roughly €627 million across oncology-focused European startups in 2025, placing Dark Blue’s up-to-€718 million acquisition at the upper end of the market and underscoring continued strategic appetite for differentiated oncology mechanisms and enabling platforms.
What happens next
Amgen said it expects to integrate Dark Blue Therapeutics into its existing research organization, bolstering early oncology discovery efforts. For the Oxford-based team and the broader UK biotech ecosystem, the deal represents another high-profile outcome for university-derived science and venture-backed translational research.
Clinical timelines and the full financial structure were not detailed in the announcement text, but the emphasis from both companies suggests the priority will be advancing DBT 3757 from IND-enabling work into human studies as quickly as feasible.
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