AstraZeneca to buy EsoBiotec for up to US$1 billion
AstraZeneca will buy all outstanding equity of EsoBiotec for on a cash and debt-free basis
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[CAMBRIDGE, UK] Drugmaker AstraZeneca said on Monday (Mar 17) it will buy biotechnology firm EsoBiotec for up to US$1 billion.
EsoBiotec’s Engineered NanoBody Lentiviral (ENaBL) platform can genetically modify immune cells directly inside the body, allowing transformative cell therapy treatments in just minutes instead of the current process which takes weeks, AstraZeneca said.
AstraZeneca will buy all outstanding equity of EsoBiotec for on a cash and debt-free basis, which includes an initial payment of US$425 million on deal closing, and up to US$575 million in contingent consideration based on development and regulatory milestones.
The transaction is expected to close in the second quarter of 2025, and does not impact AstraZeneca’s financial guidance for 2025, the company said. REUTERS
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