The acquisition of Neogene is set to give AstraZeneca (AZN) access to the latter's next-generation T-cell receptor therapies.
WILMINGTON, Del., November 30, 2022--AstraZeneca will present 47 abstracts showcasing new data from across its hematology portfolio and clinical pipeline, demonstrating its commitment to redefining care for hard-to-treat blood diseases at the 64th American Society of Hematology (ASH) Annual Meeting and Exposition, December 10 to 13, 2022.
AstraZeneca will acquire biotechnology company Neogene Therapeutics for up to $320 million, the London-listed drugmaker said on Tuesday, seeking to build its pipeline of cell-based cancer treatments. Though AstraZeneca's oncology portfolio accounted for more than a third of the company's revenue last year, it does not have an approved cell-based cancer therapy and is behind rivals such as Novartis and Gilead. "Neogene's leading (T-cell receptor) discovery capabilities and extensive manufacturing experience complement the cell therapy capability we have built over the last three years," said Susan Galbraith, AstraZeneca's executive vice president of oncology research.