Amylin Pharmaceuticals

In 1987, the same year scientists at Oxford University discovered a new hormone called amylin, a San Diego biotech startup was co-founded by Howard E. Greene, Jr. to explore its potential. The company, Amylin Pharmaceuticals, aimed to develop a synthetic version of the hormone to treat diabetes. The early years were a typical biotech struggle, requiring significant capital for research and development long before any product could be commercialized. The company went public in 1992, raising $56 million in its IPO to fund clinical trials. A pivotal moment came in 1996, not from their initial research, but from a discovery by Dr. John Eng, who had isolated a peptide from the venom of a Gila monster. This peptide, exendin-4, was licensed by Amylin and became the basis for their breakthrough drug, Byetta, developed in partnership with Eli Lilly. The drug was approved in 2005, marking a major turning point for the company that had spent nearly two decades in development. After years of navigating the challenging biopharmaceutical landscape, which included bringing two other drugs, Symlin and Bydureon, to market, Amylin's journey reached its conclusion. In 2012, Bristol-Myers Squibb announced it would acquire the company for approximately $5.3 billion. As part of the deal, AstraZeneca later joined, and eventually became the sole owner of the former Amylin assets, cementing the legacy of a company that started with a single hormone and ended with a blockbuster exit.