AstraZeneca (LON: AZN) said Monday that it has agreed to acquire EsoBiotec in a deal worth up to $1 billion.
AstraZeneca will pay $425 million upfront, with up to $575 million in additional milestone-based payments. The deal is expected to close in Q2 2025, subject to regulatory approvals.
EsoBiotec is a Belgian biotechnology firm specialising in in vivo cell therapies.
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The acquisition will enable AstraZeneca to access EsoBiotec’s Engineered NanoBody Lentiviral (ENaBL) platform. The company believes the deal will advance its cell therapy ambition.
They explain that EsoBiotec’s technology enables the genetic modification of immune cells directly within the body.
Current cell therapies are said to require immune cells to be removed, altered in a laboratory, and then reinfused into the patient—a process that takes weeks.
AZN believes EsoBiotec’s approach, administered through a simple IV injection, could increase patient access to cell therapy treatments.
“We believe it [EsoBiotec’s platform] has the potential to transform cell therapy,” said Susan Galbraith, Executive Vice President of Oncology Haematology R&D at AstraZeneca. “EsoBiotec will accelerate and expand the impact of our recent investments and marks a major step forward in realising our ambition to harness the full potential of cell therapy.”
EsoBiotec CEO Jean-Pierre Latere added: “By combining our expertise and resources, we can accelerate the development of our in vivo platform, which has a novel delivery technology.”
AstraZeneca shares edged higher at the open on Monday, currently trading around the 12,020p a share mark.
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