Dark Blue Therapeutics acquired in deal worth up to $840m

Oxford, UK – January 2026 – Oxford Science Enterprises (OSE) is pleased to announce that its portfolio company, Dark Blue Therapeutics, has been acquired by Amgen (NASDAQ: AMGN). The acquisition values Dark Blue Therapeutics at up to $840m, including upfront and future milestones.

Dark Blue Therapeutics is a discovery and development biotechnology company pioneering a new generation of precision medicines for cancer. Their lead development candidate, DBT 3757, is a potential first-in-class therapy designed to treat acute myeloid leukaemia (AML) and acute lymphoblastic leukaemia (ALL).

From academic research to life-changing therapy

Dark Blue Therapeutics emerged from world-leading research by University of Oxford academics, including Prof. Tom Milne, Dr Kilian Huber and Prof. Christian Siebold. The company’s journey began within the ‘LAB282’ accelerator – a joint initiative between OSE, Oxford University Innovation, and pharma partners – designed to speed up the translation of academic research into real-world medicines.

Following initial funding through the LAB282 accelerator in 2019, the project was spun out into Dark Blue Therapeutics in June 2020. OSE worked closely with the company, providing significant funding and helping to recruit a highly experienced leadership team adding decades of drug discovery experience to lead the scientific team and drive its commercial strategy.

The outcome is a potentially life-changing therapy for acute myeloid leukaemia – one of the most difficult cancers to treat. Dark Blue’s approach targets a specific vulnerability in the cancer cells, the MLLT1/3 protein, and by using a drug molecule that selectively degrades this protein, its function is completely silenced. Dark Blue’s lead candidate drug DBT 3757 has demonstrated strong and broad anti-cancer activity in several pre-clinical models.

With world-leading capabilities in oncology and a proven track record in developing and commercialising new medicines, Amgen is ideally positioned to build on Dark Blue’s pre-clinical success.

Ed Bussey, CEO of Oxford Science Enterprises, commented:

“We are incredibly proud to see Dark Blue Therapeutics acquired by Amgen. This is a perfect example of why OSE exists: to identify world-class science at the University of Oxford, nurture it through the critical early stages, and build it into a company capable of delivering global impact. From the early days in the LAB282 accelerator to this significant exit, we have supported this exceptional team and their vision. Most importantly, this acquisition will accelerate the development of a vital new treatment, bringing hope to people living with devastating forms of leukaemia.”

Alastair MacKinnon, CEO of Dark Blue Therapeutics, commented:

“We are very proud of the innovative research our team at Dark Blue has created, resulting in a potential new mechanistic pathway for treating ALL and other leukaemias. We could not have done this pioneering work without the support of our investors. OSE has ensured that we not only have the funds to take our discovery research forward, but also the provided business and scientific guidance which has led to this impactful deal with world-leading pharmaceutical company, Amgen. Amgen is committed to bringing new alternative treatments to improve patients’ lives and we believe our programme is in the right hands to best serve leukaemia patients.”