AstraZeneca will acquire biotechnology firm EsoBiotec for up to $1 billion.
EsoBiotec’s “Engineered NanoBody Lentiviral (ENaBL) platform can genetically modify immune cells directly inside the body, allowing transformative cell therapy treatments in just minutes instead of the current process which takes weeks,” AstraZeneca stated.
They will buy all outstanding equity of EsoBiotec on a cash and debt-free basis. The initial payment will be $425 million upon the deal’s closure. Furthermore, AstraZeneca may pay up to $575 million in contingent consideration. These payments will depend on the achievement of development and regulatory milestones.
The transaction should close in the second quarter of 2025. AstraZeneca also said the deal “does not impact AstraZeneca’s financial guidance for 2025.”
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