7 May 2024
AstraZeneca completes equity investment
agreement with Cellectis
AstraZeneca today announced the successful
completion of an equity investment with Cellectis, a clinical-stage
biotechnology company.
The equity investment and a research
collaboration agreement, announced in
November 2023 will leverage the Cellectis proprietary gene
editing technologies and manufacturing capabilities, to design up
to 10 novel cell and gene therapy products for areas of high unmet
need, including oncology, immunology and rare diseases.
Financial
considerations
In Q4 2023, Cellectis received an initial
payment of $105m from AstraZeneca, which comprised a $25m upfront
cash payment under the terms of a research collaboration agreement
and an $80m equity investment.
An additional $140m equity investment, at
$5/share, has closed following the satisfaction of
customary closing conditions including Cellectis
shareholders' approval and regulatory clearances. Post-closing of
this second investment, AstraZeneca holds a total equity stake of
c.44% in Cellectis. AstraZeneca expects to continue to treat its
investment in Cellectis as an associate.
Under the terms of the research collaboration,
Cellectis is also eligible to receive an
investigational new drug (IND) option fee and
development, regulatory and sales-related milestone payments,
ranging from $70m up to $220m, per each of the 10 candidate
products, plus tiered royalties.
AstraZeneca retains an option for a worldwide
exclusive license for the candidate products developed under the
research collaboration agreement, to be exercised before IND
filing.
Notes
Alexion
Alexion, AstraZeneca Rare Disease is focused on
serving patients and families affected by rare diseases and
devastating conditions through the discovery, development and
delivery of life-changing medicines. A pioneering leader in rare
disease for more than three decades, Alexion was the first to
translate the complex biology of the complement system into
transformative medicines, and today it continues to build a
diversified pipeline across disease areas with significant unmet
need, using an array of innovative modalities. As part of
AstraZeneca, Alexion is continually expanding its global geographic
footprint to serve more rare disease patients around the world. It
is headquartered in Boston, US.
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
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 social media @AstraZeneca
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Adrian Kemp
Company Secretary
AstraZeneca PLC