AstraZeneca boosts cancer portfolio with $320 mln Neogene deal


Share post:

Pharmaceutical giant AstraZeneca will acquire biotechnology company Neogene Therapeutics for up to $320 million, the London-listed drugmaker said on Tuesday (November 29) as it seeks 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.

Cell-based treatments are a relatively new approach to treating cancer, most of which involve drawing the body’s own immune cells and processing them in the lab to target and kill cancer cells.

Neogene‘s approach goes one step further in that its experimental T-cell receptor therapies seek to target DNA mutations specific to tumours, not only certain proteins on the surface of cancer cells.

“Our expertise, clinical portfolio and platform technologies in this area combined with AstraZeneca’s leadership in oncology and global footprint mean we are well-positioned to translate pioneering science into novel treatments for hard-to-treat cancers,” said Neogene Chief Executive Carsten Linnemann.

Linnemann founded Neogene in the Netherlands in 2018 along with the Netherlands Cancer Institute’s Ton Schumacher. It has headquarters in Amsterdam and Santa Monica, California.

AstraZeneca will make an initial payment of $200 million to Neogene, with a further $120 million dependent on the company meeting certain targets.

The Anglo-Swedish drugmaker said the deal does not affect its full-year financial guidance and is expected to close in the first quarter of 2023.


Please enter your comment!
Please enter your name here

Current Issue June 2023

Related articles

A new Haleon report claims growth of pain in the past decade

Consumer health company Haleon, formerly known as GSK, claims that pain's emotional and life impact has grown by...

Viatris to divest some businesses for nearly £3 billion

Drugmaker Viatris said on Sunday (October 1) it had reached agreements to divest some of its businesses for...

Titan PMR set to unveil ‘Titanverse’, a one-stop-shop tech solution for pharmacy businesses

Bristol-based Titan PMR, a technology firm specialising in PMR systems for community pharmacies, is set to roll out...

Six Scotland-based pharmacists recognised at celebratory RPS event in Edinburgh

Six pharmacists based in Scotland were acknowledged by the profession this week during a celebratory event held at...