REG - AstraZeneca PLC - AstraZeneca to acquire Neogene Therapeutics

AstraZenecaAnnouncement

29/11/2022 07:00

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RNS Number : 9010H  AstraZeneca PLC  29 November 2022

29 November 2022 7:00 GMT

 

AstraZeneca to acquire Neogene Therapeutics,

accelerating ambition in Oncology cell therapy

 

Acquisition provides access to next-generation T-cell receptor

therapies with promising potential for targeting solid tumours

 

AstraZeneca today announced an agreement to acquire Neogene Therapeutics Inc.
(Neogene), a global clinical-stage biotechnology company pioneering the
discovery, development and manufacturing of next-generation T-cell receptor
therapies (TCR-Ts) that offer a novel cell therapy approach for targeting
cancer.

 

With a shared goal of bringing cell therapies to patients with solid tumours,
Neogene's expertise in TCR-T discovery, development and manufacturing will
strengthen AstraZeneca's ambition to transform outcomes for patients.

 

TCR-Ts are emerging as a promising therapeutic modality in cancer treatment.
Most current cell therapy approaches in oncology focus on modifying the immune
system's T cells to recognise proteins expressed on the surface of cancer
cells. In contrast, TCR-Ts can recognise intracellular targets, including
cancer-specific mutations, thereby potentially unlocking targets previously
inaccessible using cell therapies.

Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca,
said: "This acquisition represents a unique opportunity to bring innovative
science and leading experts in T-cell receptor biology and cell therapy
manufacturing together with our internal oncology cell therapy team, unlocking
new ways to target cancer. Neogene's leading TCR discovery capabilities and
extensive manufacturing experience complement the cell therapy capability we
have built over the last three years and allow us to accelerate the
development of potentially curative cell therapies for the benefit of
patients."

 

Carsten Linnemann, PhD, Chief Executive Officer, Neogene, said: "We are
excited to work together with AstraZeneca towards our shared mission of
transforming the treatment options for patients with solid tumours using
next-generation T-cell receptor therapies. Our expertise, clinical portfolio
and platform technologies in this area combined with AstraZeneca's leadership
in oncology and global footprint mean we are well-positioned to translate
pioneering science into novel treatments for hard-to-treat cancers."

 

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

 

Financial considerations

AstraZeneca will acquire all outstanding equity of Neogene for a total
consideration of up to $320m, on a cash and debt free basis. This will include
an initial payment of $200m on deal closing, and a further up to $120m in both
contingent milestones-based and non-contingent consideration.

The transaction is expected to close in the first quarter of 2023, subject to
customary closing conditions and regulatory clearances. The transaction does
not impact AstraZeneca's financial guidance for 2022.

 

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 US headquarters in Santa Monica.
Its team 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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