AstraZeneca to acquire Neogene Therapeutics for $320M

AstraZeneca "announced an agreement to acquire Neogene Therapeutics, a global clinical-stage biotechnology company pioneering the discovery, development and manufacturing of next-generation T-cell receptor therapies 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… 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."