AstraZeneca plc (LON:AZN) has completed the acquisition of Neogene Therapeutics Inc., a global clinical-stage biotechnology company pioneering the discovery, development and manufacturing of next-generation T-cell receptor therapies (TCR-Ts).
Neogene will operate as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, US.
Financial considerations
AstraZeneca has acquired all outstanding equity of Neogene in exchange for an initial payment of $200m. Under the terms of the agreement, AstraZeneca will pay up to $120m in additional contingent milestone-based and non-contingent consideration.
Notes
Neogene Therapeutics
Neogene Therapeutics, Inc. is a global 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).
Neogene was founded by Carsten Linnemann, PhD, Chief Executive Officer of Neogene, and Ton Schumacher, PhD, Principal Investigator at the Netherlands Cancer Institute, Oncode Institute in partnership with Two River, and cell therapy industry veteran Arie Belldegrun, MD, founder of Kite Pharma, Inc. and Co-Founder and Executive Chairman of Allogene Therapeutics, Inc. as well as key investments from Vida Ventures, TPG, EcoR1 Capital, Jeito Capital, Syncona, Polaris Partners and Pontifax.
Neogene has EU headquarters in Amsterdam and U.S. headquarters in Santa Monica. Its team of over 120 employees has deep gene and cell therapy expertise and a shared mission to bring next-generation transformative TCR therapies to patients with solid cancers worldwide.
