RNS Number : 9010H
29 November 2022
29 November 2022 7:00 GMT
AstraZeneca to acquire Neogene Therapeutics,
accelerating ambition in Oncology cell therapy
Acquisition provides access to next-generation T-cell
therapies with promising potential for targeting solid
AstraZeneca today announced an agreement to acquire 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) that offer a
novel cell therapy approach for targeting cancer.
With a shared goal of bringing cell therapies to patients 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 emerging as a promising therapeutic modality in
cancer treatment. Most current cell therapy approaches in oncology
focus on modifying the immune system's T cells to recognise
proteins expressed on the surface of cancer cells. In contrast,
TCR-Ts can recognise intracellular targets, including
cancer-specific mutations, thereby potentially unlocking targets
previously inaccessible using cell therapies.
Susan Galbraith, Executive Vice President, Oncology R&D,
AstraZeneca, said: "This acquisition represents a unique
opportunity to bring innovative science and leading experts in
T-cell receptor biology and cell therapy manufacturing together
with our internal oncology cell therapy team, unlocking new ways to
target cancer. Neogene's leading TCR discovery capabilities and
extensive manufacturing experience complement the cell therapy
capability we have built over the last three years and allow us to
accelerate the development of potentially curative cell therapies
for the benefit of patients."
Carsten Linnemann, PhD, Chief Executive Officer, Neogene, said:
"We are excited to work together with AstraZeneca towards our
shared mission of transforming the treatment options for patients
with solid tumours using next-generation T-cell receptor therapies.
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."
Neogene will operate as a wholly owned subsidiary of
AstraZeneca, with operations in Amsterdam, the Netherlands and
AstraZeneca will acquire all outstanding equity of Neogene 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
The transaction is expected to close in the first quarter of
2023, subject to customary closing conditions and regulatory
clearances. The transaction does not impact AstraZeneca's financial
guidance for 2022.
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
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 US headquarters in
Santa Monica. Its team has deep gene and cell therapy expertise and
a shared mission to bring next-generation transformative TCR
therapies to patients with solid cancers worldwide. Please visit
www.neogene.com and follow Neogene on LinkedIn .
AstraZeneca in oncology cell therapy
AstraZeneca is building a cell therapy portfolio that aims to
empower and equip the immune system's T cells to more effectively
fight cancer. The Company is building on the work already done in
blood cancers where chimeric antigen receptor T-cell (CAR-T)
therapies, a type of living medicine created by isolating and
modifying a patient's T cells to target their specific tumour, are
being used to treat some haematological malignancies. Their
research teams are exploring new ways to target and arm CAR-Ts to
increase their effectiveness in solid tumours by overcoming the
immune-suppressive tumour microenvironment. Looking to the future,
AstraZeneca is working to engineer next-generation cell therapies,
where physicians could potentially select from a library of
off-the-shelf patient-ready therapies already developed from the
cells of healthy donors.
Ultimately, by utilising innovative strategies to improve the
precision and effectiveness of cell therapies, the Company's goal
is to deliver new medicines to help transform the lives of patients
living with a range of cancers.
AstraZeneca in oncology
AstraZeneca is leading a revolution in oncology with the
ambition to provide cures for cancer in every form, following the
science to understand cancer and all its complexities to discover,
develop and deliver life-changing medicines to patients.
The Company's focus is on some of the most challenging cancers.
It is through persistent innovation that AstraZeneca has built one
of the most diverse portfolios and pipelines in the industry, with
the potential to catalyse changes in the practice of medicine and
transform the patient experience.
AstraZeneca has the vision to redefine cancer care and, one day,
eliminate cancer as a cause of death.
AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led
biopharmaceutical company that focuses on the discovery,
development, and commercialisation of prescription medicines in
Oncology, Rare Diseases, and BioPharmaceuticals, including
Cardiovascular, Renal & Metabolism, and Respiratory &
Immunology. Based in Cambridge, UK, AstraZeneca operates in over
100 countries and its innovative medicines are used by millions of
patients worldwide. Please visit astrazeneca.com and follow the
Company on Twitter @ AstraZeneca .
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(END) Dow Jones Newswires
November 29, 2022 02:00 ET (07:00 GMT)
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