AstraZeneca to acquire cancer focused biotech Neogene
Maksim Labkouski


AstraZeneca (NASDAQ:AZN) announced on Tuesday an agreement to acquire Neogene Therapeutics, a biotech focused on developing T-cell receptor cancer therapies, for up to $320M.
Headquartered in the US and EU, Neogene is a clinical-stage company focused on TCR therapies targeting neoantigens in solid cancers.

Per the terms, Astra (AZN) is expected to acquire all outstanding equity of Neogene on a cash and debt-free basis after an initial payment of $200M in addition to milestone-based fees worth up to $120M.
The deal is expected to close in Q1 2023 and will not impact Astraâs (AZN) financial guidance for 2022.
After the acquisition, Neogene will function as a wholly owned subsidiary of Astra (AZN) with operations in Amsterdam in the Netherlands and California in the US.
The pharma giantâs last major buyout deal was an agreement to acquire the U.S.-based genetic medicine company LogicBio through a subsidiary of its rare disease unit Alexion.