REG - AstraZeneca PLC - Acquisition of Neogene Therapeutics completed

AstraZenecaAnnouncement

16/01/2023 07:00

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RNS Number : 7467M  AstraZeneca PLC  16 January 2023

16 January 2023 07:00 GMT

 

Acquisition of Neogene Therapeutics completed

 

AstraZeneca has completed the acquisition of Neogene Therapeutics Inc.
(https://www.astrazeneca.com/media-centre/press-releases/2022/astrazeneca-to-acquire-neogene-therapeutics-accelerating-ambition-in-oncology-cell-therapy.html)
(Neogene), a global clinical-stage biotechnology company pioneering the
discovery, development and manufacturing of next-generation T-cell receptor
therapies (TCR-Ts).

 

Neogene will operate as a wholly owned subsidiary of AstraZeneca, with
operations in Amsterdam, the Netherlands and California, US.

 

Financial considerations

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.

 

Notes

 

Neogene Therapeutics

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. Its team of over 120 employees has deep gene and cell therapy
expertise and a shared mission to bring next-generation transformative TCR
therapies to patients with solid cancers worldwide. Please visit
www.neogene.com (http://www.neogene.com/) and follow Neogene on LinkedIn
(https://www.linkedin.com/company/neogene-therapeutics/) .

 

AstraZeneca in oncology cell therapy

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. Their
research teams are exploring new ways to target and arm CAR-Ts to increase
their effectiveness in solid tumours by overcoming the immune-suppressive
tumour microenvironment. Looking to the future, AstraZeneca is working to
engineer next-generation cell therapies, where physicians could potentially
select from a library of off-the-shelf patient-ready therapies already
developed from the cells of healthy donors.

 

Ultimately, by utilising innovative strategies to improve the precision and
effectiveness of cell therapies, the Company's goal is to deliver new
medicines to help transform the lives of patients living with a range of
cancers.

 

AstraZeneca in oncology

AstraZeneca is leading a revolution in oncology with the ambition to provide
cures for cancer in every form, following the science to understand cancer and
all its complexities to discover, develop and deliver life-changing medicines
to patients.

 

The Company's focus is on some of the most challenging cancers. It is through
persistent innovation that AstraZeneca has built one of the most diverse
portfolios and pipelines in the industry, with the potential to catalyse
changes in the practice of medicine and transform the patient experience.

 

AstraZeneca has the vision to redefine cancer care and, one day, eliminate
cancer as a cause of death.

 

AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical
company that focuses on the discovery, development, and commercialisation of
prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals,
including Cardiovascular, Renal & Metabolism, and Respiratory &
Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries
and its innovative medicines are used by millions of patients worldwide.
Please visit astrazeneca.com (http://www.astrazeneca.com/)  and follow the
Company on Twitter @AstraZeneca (https://twitter.com/AstraZeneca) .

 

Contacts

For details on how to contact the Investor Relations Team, please click here
(https://www.astrazeneca.com/investor-relations.html#Contacts) . For Media
contacts, click here (https://www.astrazeneca.com/media-centre/contacts.html)
.

 

Adrian Kemp

Company Secretary

AstraZeneca PLC

 

 

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