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Investing.com -- AstraZeneca (NASDAQ:AZN), a leading pharmaceutical company, announced on Monday that it plans to acquire biotechnology firm EsoBiotec in a deal that could reach up to $1 billion.
EsoBiotec’s innovative Engineered NanoBody Lentiviral (ENaBL) platform is known for its ability to genetically modify immune cells directly inside the body. This technology enables cell therapy treatments to be completed in a matter of minutes, a significant reduction from the current weeks-long process, according to AstraZeneca.
The terms of the acquisition include AstraZeneca purchasing all outstanding equity of EsoBiotec on a cash and debt-free basis.
The agreement stipulates an initial payment of $425 million upon the deal’s closure, with the potential for an additional $575 million in contingent consideration based on the achievement of development and regulatory milestones.
The transaction is anticipated to be finalized in the second quarter of 2025. Importantly, AstraZeneca confirmed that the acquisition will not affect the company’s financial guidance for 2025.
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