LONDON, UK: AstraZeneca introduced an settlement to purchase Neogene Therapeutics Inc., for a complete consideration of as much as $320 million, on a money and debt free basis. This will include an preliminary payment of $200 million on deal closing, and a additional as much as $120 million in each contingent milestones-based and non-contingent consideration.
Neogene Therapeutics is a global clinical-stage biotechnology firm pioneering the discovery, development and manufacturing of next-generation T-cell receptor therapies (TCR-Ts) that offer a novel cell remedy approach for targeting cancer.
The transaction is anticipated to shut within the primary quarter of 2023, topic to customary closing conditions and regulatory clearances. The transaction doesn’t impact AstraZeneca’s monetary guidance for 2022.
With a shared goal of bringing cell therapies to sufferers 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 rising as a promising therapeutic modality in most cancers treatment. Most present cell remedy approaches in oncology focus on modifying the immune system’s T cells to recognise proteins expressed on the floor of most cancers cells. In contrast, TCR-Ts can recognise intracellular targets, collectively with cancer-specific mutations, thereby potentially unlocking targets beforehand inaccessible utilizing cell therapies.
Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said: “This acquisition represents a distinctive alternative to bring innovative science and main experts in T-cell receptor biology and cell remedy manufacturing along with our internal oncology cell remedy team, unlocking new methods to focus on cancer. Neogene’s main TCR discovery capabilities and extensive manufacturing expertise complement the cell remedy functionality we have constructed over the final three years and permit us to speed up the event of potentially healing cell therapies for the profit of patients.”
Carsten Linnemann, PhD, Chief Executive Officer, Neogene, said: “We are excited to work along with AstraZeneca towards our shared mission of transforming the treatment choices for sufferers with solid tumours utilizing next-generation T-cell receptor therapies. Our expertise, clinical portfolio and platform applied sciences on this space mixed with AstraZeneca’s management in oncology and global footprint imply we’re well-positioned to translate pioneering science into novel treatments for hard-to-treat cancers.”
Neogene will function as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, US.
Neogene Therapeutics, Inc. is a global biotechnology firm 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 in addition to TCR therapies targeting shared neoantigens, collectively with mutated KRAS (mKRAS) and mutated TP53 (mTP53).
Neogene Therapeutics was based by Carsten Linnemann, PhD, Chief Executive Officer of Neogene, and Ton Schumacher, PhD, Principal Investigator on the Netherlands Cancer Institute, Oncode Institute in partnership with Two River, and cell remedy industry veteran Arie Belldegrun, MD, founding father of Kite Pharma, Inc. and Co-Founder and Executive Chairman of Allogene Therapeutics, Inc. in addition to 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 remedy expertise and a shared mission to bring next-generation transformative TCR therapies to sufferers with solid cancers worldwide.