7th Oct 2013 07:15
LONDON (Alliance News) - AstraZeneca PLC Monday said its global biologics research-and-development arm, MedImmune, completed its acquisition of Amplimmune, a privately-held, US-based biologics company focused on developing novel therapeutics in cancer immunology.
The deal was made in order to bolster MedImmune's oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy portfolio.
The deal, worth up to USD500 million was completed on Friday, with an initial payment of USD225 million for 100% of Amplimmune's shares, with a further payment of up to USD275 million based on criteria which AstraZeneca didn't specify.
The cancer-therapy portfolio includes AMP-514, an anti-programmed cell death 1 (PD-1) monoclonal antibody. AMP-514 is currently in late-stage pre-clinical development with the aim of an investigational new drug (IND) filing before the end of 2013. Other Amplimmune assets include multiple preclinical molecules targeting the B7 pathways.
According to AstraZeneca, MedImmune is building one of the most comprehensive programmes in IMT-Cs, which are are being designed to empower the immune system to beat cancer cells' ability to attack the body while avoiding detection.
AstraZeneca shares were quoted down 11.00 pence at 3,171.00p at the open Monday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Astrazeneca