AstraZeneca has acquired Neogene Therapeutics in a transaction valued at up to $320 million. Consideration will include an initial payment of $200 million upon closing, and a further amount of up to $120 million in contingent, milestones-based and non-contingent consideration.
The transaction is expected to close in the first quarter of 2023. Upon completion of the transaction, Neogene Therapeutics will operate as a wholly owned subsidiary, with operations in Amsterdam, The Netherlands, and Santa Monica, California.
Neogene Therapeutics is a clinical-stage biotechnology company focused on discovering, developing and manufacturing transformative TCR therapies targeting neoantigens in solid cancers.
AstraZeneca engages in the research, development and manufacture of pharmaceutical products. AstraZeneca focuses on prescription medicines in the areas of infection, cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology and neuroscience.
According to the LevinPro HC database, this marks the 129th Biotechnology transaction of 2022. This compares with 106 Biotechnology deals reported between January 1, 2021, and November 29, 2021.
