Swedish-British pharmaceutical giant AstraZeneca has announced an agreement to acquire biotech company EsoBiotec. The deal could be worth $1 billion, according to an official statement from AstraZeneca.
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Strategic acquisition to strengthen position in oncology
AstraZeneca is actively developing the cell therapy area, especially in the field of cancer treatment. The company invests both in its own developments and in strategic acquisitions of promising technologies.
Innovative EsoBiotec Technology: Genetic Modification of Immune Cells in Vivo
As noted by AstraZeneca, EsoBiotec has developed a unique technology that allows genetic modification of immune cells directly in the patient's body (in vivo). This opens the way to the creation of revolutionary methods of cell therapy that take a matter of minutes.
Advantages: administration and no need to deplete the immune system
This approach allows cell therapy to be delivered via a simple intravenous injection, without the need to first deplete the patient's immune system, AstraZeneca added.
Financial terms of the deal: up to $1 billion with staged payment
AstraZeneca will acquire 100% of EsoBiotec shares. The total value of the deal could reach $1 billion (excluding cash and debt).
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