The companies said on Monday that AstraZeneca will pay $425 million upfront and could spend up to $575 million more on the development and regulatory compliance phases.
Astra believes that EsoBiotec's platform has the potential to transform cell therapy by empowering the immune system to attack cancer. It uses targeted viruses to create immune cells directly in the human body and could allow treatments to be delivered in minutes, rather than the weeks that are typically required today.
In January, EsoBiotec announced the start of trials of an experimental multiple myeloma therapy in collaboration with Chinese company Shenzhen Pregene Biopharma Co. The goal is to achieve complete absence of cancer in the bone marrow without the need for chemotherapy to achieve lymphodepletion, which is required in traditional CAR-T treatment.
Under the terms of the deal, EsoBiotec will become a subsidiary of Astra and will retain operations in Belgium. The deal is expected to close in the second quarter. EsoBiotec has previously raised just €22 million ($24 million).
In a separate cancer deal announced Monday, Astra agreed to license a subcutaneous dosage form platform from Alteogen Inc. The company did not disclose financial details.
Source: Reuters
