AstraZeneca completes acquisition of Gracell Biotechnologies
Gracell will operate as a wholly owned subsidiary of AstraZeneca, with operations in China and the US.
Cambridge: AstraZeneca has announced the successful completion of the acquisition of Gracell Biotechnologies Inc., a global clinical-stage biopharmaceutical company developing innovative cell therapies for the treatment of cancer and autoimmune diseases, furthering AstraZeneca’s cell therapy ambition.
The acquisition enriches AstraZeneca’s growing pipeline of cell therapies with GC012F, a novel, clinical-stage FasTCAR-enabled BCMA and CD19 dual-targeting autologous chimeric antigen receptor T-cell (CAR-T) therapy. GC012F is a potential new treatment for multiple myeloma, as well as other haematologic malignancies and autoimmune diseases including systemic lupus erythematosus (SLE). Gracell has initiated a Phase Ib/II trial evaluating GC012F for the treatment of relapsed or refractory multiple myeloma in the US.
Read also: AstraZeneca Tagrisso with chemotherapy approved in US for EGFR-mutated advanced lung cancer
Gracell will operate as a wholly owned subsidiary of AstraZeneca, with operations in China and the US.
The upfront cash portion of the consideration represents a transaction value of approximately $1.0bn. Combined, the upfront and potential contingent value payments represent, if achieved, a transaction value of approximately $1.2bn.
