AstraZeneca PLC (LSE:AZN) will spend up to US$320mln to strengthen its cancer business with an acquisition specialising in an innovative cell therapy approach for hard-to-treat cancers.
Amsterdam-based Neogene Therapeutics Inc focuses on next-generation T-cell receptor therapies (TCR-Ts) to treat patients with advanced solid tumours.
While some of the focus of engineering the immune system's T-cells – so called 'living drugs' – as medicines in oncology have focused on recognising proteins expressed on the surface of cancer cells, TCR-Ts can recognise patient-specific tumour mutations to potentially unlock previously inaccessible targets.
Neogene, which also has operations in California, in May this year was given the green light by Netherlands regulators to begin its first Phase 1 clinical trial for a multi-specific TCR therapy for the treatment of advanced solid tumours.
AstraZeneca, which has built its own cell therapy capability over the past three years, will pay US$200mln up front, with the deal expected to close in the first quarter of next year.
A further US$120mln could be shelled out by the FTSE 100-listed company via milestone-based payments and non-contingent amounts.
Susan Galbraith, AZ’s oncology research & development chief, said the acquisition “represents a unique opportunity to bring innovative science and leading experts in T-cell receptor biology and cell therapy manufacturing together with our internal oncology cell therapy team, unlocking new ways to target cancer”.
She said Neogene’s “leading” capabilities and “extensive” manufacturing experience will complement AZ’s cell therapy capability and should help accelerate the development of potential cell therapies.