EsoBiotec SA, a biotechnology company specializing in in vivo cell therapies, has announced a definitive agreement to be acquired by AstraZeneca PLC (NYSE:AZN).
The agreement represents a major step forward for EsoBiotec, which has demonstrated encouraging early clinical results with its Engineered NanoBody Lentiviral (ENaBL) platform.
AstraZeneca is acquiring all of EsoBiotec’s outstanding equity for a total of up to $1 billion. The deal includes an initial $425 million payment at closing, with up to an additional $575 million in contingent consideration based on development and regulatory milestones.
The transaction is expected to be finalized in the second quarter of 2025. EsoBiotec will continue operations in Belgium as a wholly owned subsidiary of AstraZeneca.
“We believe it has the potential to transform cell therapy and will enable us to scale these innovative treatments so that many more patients around the world can access them. 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,” said AstraZeneca Executive Vice President, Oncology Haematology R&D, Susan Galbraith.
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EsoBiotec’s ENaBL platform utilizes highly targeted lentiviruses to deliver genetic instructions directly to immune cells like T cells. The technology programs these cells to recognize and destroy cancerous cells or autoreactive cells related to immune-mediated diseases.
In contrast to conventional treatments that require extracting cells from patients, modifying them externally, and enduring prolonged manufacturing periods, ENaBL works by enhancing the immune system within the patient’s body itself, by administering therapies through a simple intravenous (IV) injection.
AstraZeneca held $5.6 billion in cash and equivalents as of December 31.
Price Action: AZN shares traded lower by 0.66% at $77.08 in premarket at last check Monday.
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