16th Jan 2023 08:49
(Alliance News) - AstraZeneca PLC on Monday said it completed its acquisition of Neogene Therapeutics Inc, a clinical-stage biotechnology company focused on the discovery, development and manufacturing of T-cell receptor therapies.
Neogene Therapeutics now will operate as a wholly-owned subsidiary of the Cambridge-based pharmaceutical company, with operations in both Amsterdam and Santa Monica, California.
AstraZeneca bought Neogene Therapeutics for an initial payment of USD200 million in November last year. It will pay an additional consideration of up to USD120 million if milestones are met.
TCR-Ts are emerging as a promising therapeutic modality in cancer treatment.
Last Friday, Astra said its Tezspire has been approved for self-administration in the EU in a new pre-filled pen, for severe asthma patients aged 12 years and older.
Shares were up 0.4% at 11,702.00 pence each on Monday morning in London.
By Xindi Wei, Alliance News reporter
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