EU and US could reach trade deal this weekend - Reuters
AstraZeneca PLC (LSE/STO/Nasdaq:LON:AZN), the global biopharmaceutical company, has announced the completion of its acquisition of EsoBiotec, a biotech company specializing in cell therapies, for a total consideration of up to $1 billion. The transaction, which was finalized today, does not affect AstraZeneca (NASDAQ:AZN)’s financial guidance for the year 2025.
The acquisition introduces the EsoBiotec Engineered NanoBody Lentiviral (ENaBL) platform to AstraZeneca’s portfolio. This innovative technology enables the programming of immune cells, such as T cells, to target and destroy cancer cells. Unlike traditional processes that require weeks, the ENaBL platform can deliver transformative cell therapy treatments in mere minutes.
EsoBiotec, now a fully owned subsidiary of AstraZeneca, will continue its operations in Belgium. The financial terms include an initial payment of $425 million and up to $575 million in contingent consideration based on reaching certain development and regulatory milestones.
AstraZeneca has expressed its ambition to expand its cell therapy capabilities, aiming to harness the potential of the immune system in cancer treatment and immune-mediated diseases. The company is advancing a broad pipeline of cell therapies, with technologies such as CAR T, TCR T, and CAR Tregs cells, to provide transformative solutions with curative potential for people living with rare diseases.
The acquisition of EsoBiotec represents a strategic move for AstraZeneca, reinforcing its commitment to innovation in oncology and cell therapy. The company continues to focus on developing life-changing medicines and aims to redefine cancer care and, ultimately, eliminate cancer as a cause of death.
This news is based on information contained in a press release statement filed with the SEC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.