Dark Blue Therapeutics, a British discovery and development BioTech company innovating the next generation of precision oncology medicines, has been acquired by US-based global BioTech company Amgen, in a transaction valued at up to €718 million ($840 million).
Dark Blue’s lead candidate DBT 3757 is a first-in-class therapy in IND-enabling studies for leukemia, with the potential to deliver strong, durable single-agent efficacy and act as a safe backbone for earlier combination treatments. Dark Blue has been supported by investors Oxford Science Enterprises (OSE), Bristol Myers Squibb (BMS) and Evotec.
“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. With its world-leading capabilities in oncology and deep experience in developing, manufacturing, and commercializing novel medicines, we are confident that Amgen will build on our pre-clinical work to bring DBT 3757 to the patients who urgently need new treatment options,” comments Alastair MacKinnon, CEO of Dark Blue Therapeutics.
In 2025, the European startup ecosystem shows sustained capital flows into oncology and adjacent BioTech platforms, providing context for Amgen’s acquisition of Dark Blue Therapeutics.
Notable funding rounds include Tubulis, which raised €308 million in a Series C to advance antibody-drug conjugates for cancer; Adcytherix, which secured €105 million in a Series A to develop novel ADC-based cancer therapies; and Artios Pharma, which closed a €99 million Series D to expand its precision oncology pipeline.
The UK in particular has seen multiple relevant raises, including CHARM Therapeutics (€68.5 million for AI-driven drug discovery) and T-Therapeutics (€27.5 million to progress immuno-oncology programmes), placing Dark Blue within a nationally active funding environment.
Elsewhere in Europe, EU-Startups also reported rounds for 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 Lithea in Sweden (€851k for tumour-targeted therapies).
Taken together, these announcements represent approximately €627 million in disclosed 2025 funding across oncology-focused European startups, situating Dark Blue’s up-to-€718 million acquisition at the higher end of sustained investment and strategic interest in precision cancer therapeutics and enabling platforms.
“We extend our sincere thanks to the entire Dark Blue team for their dedication and hard work, and to our investors OSE, BMS, and Evotec, whose invaluable support has made this achievement possible,” adds MacKinnon.
Founded in 2020, Dark Blue is a drug discovery BioTech company that leverages cancer biology insights, from Oxford University, to discover and develop innovative precision medicines that exploit novel vulnerabilities and dependencies.
Their lead candidate DBT 3757, currently in IND-enabling studies, represents a first-in-class therapeutic strategy for acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL), with the potential for producing strong, broad and durable responses as an effective single-agent therapy.
In addition, its favourable safety profile suggests it could serve as a foundation for combination treatments earlier in the therapeutic course.
Dark Blue says they have been able to translate cutting-edge discoveries into previously unexploited Achilles-heel vulnerabilities and dependencies in cancer.
The MLLT 1/3 programme’s scientific foundation is rooted in insights from Oxford University and was awarded pre-Seed funding from the ‘LAB282’ initiative.
“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,” says Jay Bradner, M.D., executive vice president of Research and Development at Amgen.
“This acquisition complements and extends our research in targeted protein degradation and leukemia therapeutics, advancing our strategy to invest early in rising medicines for novel therapeutic targets. The adjacency of this programme to our considered expertise in cancer biology will propel MLLT1/3-targeting medicines to clinical investigation for patients facing the challenging diagnosis of AML,” he adds.
Amgen expects to integrate Dark Blue Therapeutics into its existing research organisation, further strengthening the company’s early oncology discovery efforts.
Craig Fox, Oxford Science Enterprises Board Representative, adds: “As early supporters of Dark Blue, we are delighted to see the Company’s lead candidate, DBT 3757, a targeted protein degradation therapeutic, reach this important milestone. From the outset, we believed that targeting MLLT1/3 represents a first-in-class therapeutic strategy for patients with AML and ALL, and the progress made to date has strengthened that conviction.
“The acquisition by Amgen, a world-leading pharmaceutical company, is a strong validation of Dark Blue’s science, team, and vision. We look forward to seeing this promising therapy advance swiftly into clinical development and ultimately reach patients living with this devastating disease.”
Read the orginal article: https://www.eu-startups.com/2026/01/amgen-acquires-oxford-based-dark-blue-in-deal-worth-up-to-e718-million-to-advance-leukemia-programme/
