AstraZeneca to Invest $245 Million in Deal With Cellectis
01 Novembre 2023 - 9:17AM
Dow Jones News
By Ben Otto
British drugmaker AstraZeneca plans to invest $245 million in a
deal with biotechnology company Cellectis to develop
next-generation therapeutics in oncology, immunology and rare
diseases.
AstraZeneca said Wednesday that it will initially make a $105
million payment to Paris-based Cellectis in the fourth quarter,
comprising an $80 million equity investment, for a 22% stake in the
company, and $25 million in cash.
AstraZeneca plans to make a further $140 million equity
investment, subject to regulatory and other approvals, with a
closing in early 2024, taking its total stake in Cellectis to
44%.
AstraZeneca said it plans to leverage Cellectis's gene-editing
technologies and manufacturing capabilities to design novel cell
and gene therapy products.
Cellectis will be eligible to receive an investigational new
drug option fee and various milestone payments ranging from $70
million to up to $220 million for each of 10 candidate products,
plus tiered royalties, AstraZeneca said.
AstraZeneca will retain an option for an exclusive license for
the products developed under the research collaboration
agreement.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
November 01, 2023 04:02 ET (08:02 GMT)
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