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AstraZeneca acquires Neogene for 200M USD

Cambridge-based British-Swedish multinational pharmaceutical and biotechnology major AstraZeneca has informed that it has completed the acquisition of Amsterdam-based biotechnology company Neogene.

Neogene will operate as a wholly-owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands, and California, the United States, the company announced in a media statement on January 16, 2023.

AstraZeneca said that it has acquired all outstanding equity of Neogene in exchange for an initial payment of 200 million US dollars.

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Under the terms of the agreement, AstraZeneca will pay up to 120 million US dollars in additional contingent milestone-based and non-contingent consideration, the statement read.

AstraZeneca stated that it is developing a cell therapy portfolio aimed at empowering and equipping the T cells of the immune system to fight cancer more effectively.

The company further stated that it is building on the work already done in blood cancers where chimeric antigen receptor T-cell (CAR-T) therapies, a type of living medicine created by isolating and modifying a patient’s T cells to targeting their specific tumour, are being used to treat some haematological malignancies.

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