RNS Number : 7467M
16 January 2023
16 January 2023 07:00 GMT
Acquisition of Neogene Therapeutics completed
AstraZeneca has completed the acquisition of Neogene
Therapeutics Inc. (Neogene), a global clinical-stage biotechnology
company pioneering the discovery, development and manufacturing of
next-generation T-cell receptor therapies (TCR-Ts).
Neogene will operate as a wholly owned subsidiary of
AstraZeneca, with operations in Amsterdam, the Netherlands and
AstraZeneca has acquired all outstanding equity of Neogene in
exchange for an initial payment of $200m. Under the terms of the
agreement, AstraZeneca will pay up to $120m in additional
contingent milestone-based and non-contingent consideration.
Neogene Therapeutics, Inc. is a global biotechnology company
focused on discovering, developing and manufacturing
next-generation, transformative TCR therapies targeting neoantigens
in solid cancers. Neogene is advancing a pipeline of fully
individualized TCR therapies as well as TCR therapies targeting
shared neoantigens, including mutated KRAS (mKRAS) and mutated TP53
Neogene was founded by Carsten Linnemann, PhD, Chief Executive
Officer of Neogene, and Ton Schumacher, PhD, Principal Investigator
at the Netherlands Cancer Institute, Oncode Institute in
partnership with Two River, and cell therapy industry veteran Arie
Belldegrun, MD, founder of Kite Pharma, Inc. and Co-Founder and
Executive Chairman of Allogene Therapeutics, Inc. as well as key
investments from Vida Ventures, TPG, EcoR1 Capital, Jeito Capital,
Syncona, Polaris Partners and Pontifax.
Neogene has EU headquarters in Amsterdam and U.S. headquarters
in Santa Monica. Its team of over 120 employees has deep gene and
cell therapy expertise and a shared mission to bring
next-generation transformative TCR therapies to patients with solid
cancers worldwide. Please visit www.neogene.com and follow Neogene
on LinkedIn .
AstraZeneca in oncology cell therapy
AstraZeneca is building a cell therapy portfolio that aims to
empower and equip the immune system's T cells to more effectively
fight cancer. The Company 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 target their specific tumour, are
being used to treat some haematological malignancies. Their
research teams are exploring new ways to target and arm CAR-Ts to
increase their effectiveness in solid tumours by overcoming the
immune-suppressive tumour microenvironment. Looking to the future,
AstraZeneca is working to engineer next-generation cell therapies,
where physicians could potentially select from a library of
off-the-shelf patient-ready therapies already developed from the
cells of healthy donors.
Ultimately, by utilising innovative strategies to improve the
precision and effectiveness of cell therapies, the Company's goal
is to deliver new medicines to help transform the lives of patients
living with a range of cancers.
AstraZeneca in oncology
AstraZeneca is leading a revolution in oncology with the
ambition to provide cures for cancer in every form, following the
science to understand cancer and all its complexities to discover,
develop and deliver life-changing medicines to patients.
The Company's focus is on some of the most challenging cancers.
It is through persistent innovation that AstraZeneca has built one
of the most diverse portfolios and pipelines in the industry, with
the potential to catalyse changes in the practice of medicine and
transform the patient experience.
AstraZeneca has the vision to redefine cancer care and, one day,
eliminate cancer as a cause of death.
AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led
biopharmaceutical company that focuses on the discovery,
development, and commercialisation of prescription medicines in
Oncology, Rare Diseases, and BioPharmaceuticals, including
Cardiovascular, Renal & Metabolism, and Respiratory &
Immunology. Based in Cambridge, UK, AstraZeneca operates in over
100 countries and its innovative medicines are used by millions of
patients worldwide. Please visit astrazeneca.com and follow the
Company on Twitter @ AstraZeneca .
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(END) Dow Jones Newswires
January 16, 2023 02:00 ET (07:00 GMT)
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