6th May 2024 07:46
(Alliance News) - AstraZeneca PLC on Monday said it has completed an equity investment in clinical-stage biotechnology company Cellectis, first announced in November.
Cambridge, England-based AstraZeneca in November had said that under the terms of the deal, it will leverage Cellectis's proprietary gene editing technologies and manufacturing capabilities to design new cell and gene therapy products.
Cellectis specialises in therapeutics "in areas of high unmet need" like rare diseases, immunology and oncology.
In November, Astra said it has exclusively reserved 25 genetic targets as part of the deal, potentially allowing it to explore up to ten candidate products for development.
Astra had paid Cellectis USD105 million in the fourth quarter. It has now completed a further USD140 million equity investment, following the satisfaction of certain closing conditions. It now holds an approximate stake of 44% in Cellectis.
Cellectis is also eligible for an investigational new drug option fee, as well as payments related to development, regulatory and sales-related milestones. These range from USD70 million up to USD220 million, for each of the 10 candidate products plus tiered royalties.
On Monday, Astra noted it retains an option for a worldwide exclusive license for the candidate producers developed under the research collaboration agreement. This would be exercised before the IND filing, it noted.
By Elizabeth Winter, Alliance News senior correspondent
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