Onyx Pharmaceuticals

Onyx Pharmaceuticals, established in 1992 by Kevin J. Kinsella and Dr. Frank McCormick, was a biopharmaceutical firm centered on oncology. Dr. McCormick, who had a background in cancer treatment research at Chiron Corporation, became the chief scientific officer, shaping the company's research direction. Initial capital was secured from Chiron and several venture capital firms. The company's business model focused on the development and commercialization of therapies that target the molecular mechanisms of cancer. Revenue was generated through drug sales and strategic partnerships.

A cornerstone of Onyx's portfolio was Sorafenib, sold as Nexavar, which was co-developed and co-marketed with Bayer. This oral multi-kinase inhibitor was designed to block tumor cell proliferation and angiogenesis, the process of forming new blood vessels. Nexavar gained FDA approval in 2005 for advanced renal cell carcinoma (kidney cancer) and in 2007 for unresectable hepatocellular carcinoma (liver cancer). The collaboration with Bayer was structured as a 50/50 profit-sharing agreement in the United States, with Onyx receiving royalties on sales in other regions, excluding Japan where Bayer fully funded development.

A significant milestone was the acquisition of Proteolix, Inc. in 2009 for $276 million, which brought the promising proteasome inhibitor, carfilzomib, into Onyx's pipeline. Marketed as Kyprolis, carfilzomib functions by irreversibly binding to proteasomes within myeloma cells, causing a buildup of proteins and leading to cancer cell death. The FDA granted Kyprolis accelerated approval in July 2012 for treating patients with multiple myeloma who had received at least two prior therapies. The company also had a royalty agreement with Bayer for Stivarga (regorafenib), another kinase inhibitor used for metastatic colorectal cancer and gastrointestinal stromal tumors. In August 2013, Amgen announced its acquisition of Onyx for $10.4 billion, a deal finalized in October 2013, integrating Onyx's oncology assets into Amgen's portfolio to strengthen its position in the cancer treatment market.

Keywords: Onyx Pharmaceuticals, oncology, cancer therapy, Nexavar, sorafenib, Kyprolis, carfilzomib, Amgen acquisition, biopharmaceutical, kinase inhibitor, proteasome inhibitor, multiple myeloma, renal cell carcinoma, hepatocellular carcinoma, Frank McCormick, Kevin J. Kinsella, Bayer collaboration, Proteolix acquisition, Stivarga, regorafenib, cancer drug development, targeted therapy