Amgen to Fund Predix Drug Compounds

Amgen Inc. agreed to pay as much as $308 million to develop some of Predix Pharmaceuticals Inc.'s experimental drug compounds.

Thousand Oaks-based Amgen, the world's biggest biotechnology company, will pay $20 million upfront and as much as $287.5 million later as marketing and development goals are met, Lexington, Mass.-based Predix said. The agreement also includes potential royalties.

The Amgen collaboration will focus on developing Predix's compounds known as S1P1 modulators for treating autoimmune diseases such as multiple sclerosis and rheumatoid arthritis.