AstraZeneca concludes acquisition of Neogene Therapeutics
UK: AstraZeneca has completed the acquisition of Neogene Therapeutics Inc.. Neogene will operate as a wholly-owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands, and California, US.
AstraZeneca has acquired all outstanding equity of Neogene in exchange for an initial payment of $200m. Under the terms of the agreement, AstraZeneca will pay up to $120m in additional contingent milestone-based and non-contingent consideration.
Neogene Therapeutics, Inc. is a global biotechnology company focused on discovering, developing, and manufacturing next-generation, transformative TCR therapies targeting neoantigens in solid cancers. Neogene is advancing a pipeline of fully individualized TCR therapies as well as TCR therapies targeting shared neoantigens, including mutated KRAS (mKRAS) and mutated TP53 (mTP53).
Neogene was founded by Carsten Linnemann, PhD, Chief Executive Officer of Neogene, and Ton Schumacher, PhD, Principal Investigator at the Netherlands Cancer Institute, Oncode Institute in partnership with Two River, and cell therapy industry veteran Arie Belldegrun, MD, founder of Kite Pharma, Inc. and Co-Founder and Executive Chairman of Allogene Therapeutics, Inc. as well as key investments from Vida Ventures, TPG, EcoR1 Capital, Jeito Capital, Syncona, Polaris Partners and Pontifax.
Neogene has EU headquarters in Amsterdam and U.S. headquarters in Santa Monica.
AstraZeneca is building a cell therapy portfolio that aims to empower and equip the immune system’s T cells to more effectively fight cancer. The Company is building on the work already done in blood cancers where chimeric antigen receptor T-cell (CAR-T) therapies, a type of living medicine created by isolating and modifying a patient’s T cells to target their specific tumour, are being used to treat some haematological malignancies.
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