Amgen To Buy Ilypsa for $420M

Amgen (Nasdaq: AMGN) has agreed to acquire Ilypsa Inc., a Santa Clara, Calif.-based developer of non-absorbed drugs for renal disorders. The deal is valued at $420 million in cash, and is expected to close next quarter. Ilypsa has raised over $46 million in VC funding since 2003, from firms like 5AM Ventures, Sprout Group, CMEA Ventures, Delphi Ventures, Johnson & Johnson Development Corp., Mediphase Venture Partners and U.S. Venture Partners.