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Observer
17-03-2025
- Business
- Observer
AstraZeneca to buy Belgian cell therapy firm EsoBiotec for up to $1bn
British drug major AstraZeneca said on Monday it has entered into a definitive agreement to acquire EsoBiotec, a Belgianbiotech company, for up to $1 billion on a cash and debt-free basis. The consideration includes an initial payment of $425 million on deal closing, and up to $575 million in contingent consideration based on development and regulatory milestones. The transaction is expected to close in the second quarter of 2025. EsoBiotec will become a wholly owned subsidiary of AstraZeneca, with operations in Belgium. AstraZeneca said the acquisition does not impact its financial guidance for 2025. EsoBiotec will help AstraZeneca expand its cell-therepy portfolio. This acquisition includes EsoBiotec's ENaBL platform, which empowers the immune system to attack cancers. Susan Galbraith, executive vice president of AstraZeneca, said: "We are excited about the acquisition of EsoBiotec and the opportunity to rapidly advance their promising in vivo platform. We believe it has the potential to transform cell therapy and will enable us to scale these innovative treatments so that many more patients around the world can access them."
Yahoo
17-03-2025
- Business
- Yahoo
AstraZeneca to buy EsoBiotec for up to $1 billion
(Reuters) -Drugmaker AstraZeneca said on Monday it will buy biotechnology firm EsoBiotec for up to $1 billion. EsoBiotec's Engineered NanoBody Lentiviral (ENaBL) platform can genetically modify immune cells directly inside the body, allowing transformative cell therapy treatments in just minutes instead of the current process which takes weeks, AstraZeneca said. AstraZeneca will buy all outstanding equity of EsoBiotec for on a cash and debt-free basis, which includes an initial payment of $425 million on deal closing, and up to $575 million in contingent consideration based on development and regulatory milestones. The transaction is expected to close in the second quarter of 2025, and does not impact AstraZeneca's financial guidance for 2025, the company said. Sign in to access your portfolio
Reuters
17-03-2025
- Business
- Reuters
AstraZeneca to buy EsoBiotec for up to $1 billion
March 17 (Reuters) - Drugmaker AstraZeneca (AZN.L), opens new tab said on Monday it will buy biotechnology firm EsoBiotec for up to $1 billion. EsoBiotec's Engineered NanoBody Lentiviral (ENaBL) platform can genetically modify immune cells directly inside the body, allowing transformative cell therapy treatments in just minutes instead of the current process which takes weeks, AstraZeneca said. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. AstraZeneca will buy all outstanding equity of EsoBiotec for on a cash and debt-free basis, which includes an initial payment of $425 million on deal closing, and up to $575 million in contingent consideration based on development and regulatory milestones. The transaction is expected to close in the second quarter of 2025, and does not impact AstraZeneca's financial guidance for 2025, the company said.
