AstraZeneca to buy EsoBiotec for up to $1 billion

Reuters

Mon, Mar 17, 2025, 12:06 AM 1 min read

(Reuters) -Drugmaker AstraZeneca has agreed to bargain biotechnology institution EsoBiotec for up to $1 billion, it said connected Monday, seeking to accelerate the improvement of its compartment therapy capabilities, peculiarly for crab and autoimmune diseases.

​AstraZeneca has been actively expanding its compartment therapy capabilities, peculiarly successful oncology, done interior developments arsenic good arsenic strategical acquisitions.

It bought China-based Gracell Biotechnologies for up to $1.2 cardinal successful December 2023 and, successful February 2024, said it would put $300 cardinal successful the U.S. authorities of Maryland for the find and improvement of compartment therapies.

CEO Pascal Soriot has said that caller technologies, including targeted medicines straight delivering chemotherapy to crab cells, specified arsenic antibody cause conjugates (ADC), and compartment therapy, are making up a increasing proportionality of its caller cause pipeline.

EsoBiotec has exertion that tin genetically modify immune cells straight wrong the body, allowing for transformative compartment therapy treatments successful conscionable minutes alternatively of the existent process which tin instrumentality weeks, AstraZeneca said.

AstraZeneca volition bargain each outstanding equity successful EsoBiotec connected a currency and debt-free basis, including an archetypal outgo of $425 cardinal connected closing of the deal, and up to $575 cardinal successful contingent considerations, based connected improvement and regulatory milestones.

The transaction is expected to adjacent successful the 2nd 4th of 2025, and does not impact AstraZeneca's fiscal guidance for this year, the institution said.

(Reporting by Chandini Monnappa successful Bengaluru; Editing by Mrigank Dhaniwala and Rachna Uppal)