Neogene Therapeutics to Be Acquired by AstraZeneca

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), has announced it has entered into a definitive agreement to be acquired by AstraZeneca.

Article Summary

With a shared goal of bringing cell therapies to patients with solid tumors, 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 Therapeutics 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. 

Upon completion of the transaction, Neogene will operate as a wholly owned subsidiary, with operations in Amsterdam, The Netherlands, and Santa Monica, California, USA.

About Neogene Therapeutics

Neogene Therapeutics, Inc. is a global, clinical-stage 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).

(Source: Neogene Therapeutics, 28th November 2022)

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