AstraZeneca is acquiring Belgium-based EsoBiotec for $1 billion to expand its cell therapy capabilities, with the deal set to close in the second quarter.
AstraZeneca, the British-Swedish pharmaceutical and biotechnology joint venture, announced on Monday that it has reached an agreement to acquire EsoBiotec, according to a company press release.
The Belgium-based biotech firm has accepted AstraZeneca's $1 billion acquisition offer for its entire shareholding, with an initial payment of $425 million.
The deal is expected to be finalised in the second quarter of this year, subject to regulatory approvals and customary closing conditions.
"EsoBiotec will enhance and build upon the impact of our recent investments, representing a significant step towards realising our ambition to fully harness the potential of cell therapy," said Susan Galbraith, AstraZeneca's Executive Vice President.
Jean-Pierre Latere, CEO of EsoBiotec, stated: "We are excited to collaborate with AstraZeneca, a global leader in drug development, to advance our shared goal of delivering cost-effective, transformative cell therapies to a wider patient population. By combining our expertise and resources, we can accelerate the development of our in vivo platform, which utilises an innovative delivery technology with broad therapeutic potential."
EsoBiotec is a pioneering biotechnology company specialising in in vivo cell therapies for cancer, with early clinical studies showing promising results.
The company's Engineered NanoBody Lentiviral platform enhances the immune system's ability to combat cancer and has the potential to make cell therapy more accessible, reducing treatment times from weeks to just minutes.
The claim that U.S. President Donald Trump's intervention stopped the execution of 800 detainees is "completely false", said prosecutor-general of Ira...
The Turkish Defence Ministry has called for the Syrian Democratic Forces (SDF)’s “unconditional compliance” with the 18 January ceasefire agreem...
The United Nations nuclear watchdog must clarify its stance on U.S. and Israeli attacks on Iran's nuclear sites last June that lasted 12 days, before ...
SOCAR’s Carbamide plant in Sumgayit has been recognised by the World Economic Forum (WEF) as a Global Lighthouse site, marking Azerbaijan’s first ...
In the snowy peaks of Davos, where the world’s most powerful leaders gather for the 56th World Economic Forum, a new narrative is emerging that chal...
A groundbreaking study presented at ASCO reveals that AstraZeneca’s experimental pill camizestrant, when used based on blood test results, can halve the risk of breast cancer progression or death—potentially reshaping treatment for patients with hormone receptor-positive, HER2-negative breast cancer
AstraZeneca, opens new tab said it will spend $2.5 billion on a research and development hub in Beijing, as the drugmaker scrambles to revive business in its second-biggest market after scandals including the arrest of its China president last year.
Qarabağ claimed a late 3–2 victory over Eintracht Frankfurt in the UEFA Champions League on Wednesday night, scoring deep into stoppage time to secure a dramatic home win in Baku.
Russian President Vladimir Putin said on Wednesday that Moscow could pay $1 billion from Russian assets frozen abroad to secure permanent membership in President Donald Trump’s proposed ‘Board of Peace’.
President Donald Trump said on Thursday that the United States has an "armada" heading toward Iran but hoped he would not have to use it, as he renewed warnings to Tehran against killing protesters or restarting its nuclear programme.
A commuter train collided with a construction crane in southeastern Spain on Thursday (22 January), injuring several passengers, days after a high-speed rail disaster in Andalusia killed at least 43 people.
Turkish President Recep Tayyip Erdoğan has told his Iranian counterpart Masoud Pezeshkian that Türkiye opposes any form of foreign intervention in Iran, as protests and economic pressures continue to fuel tensions in the Islamic republic.
Researchers in China said they have developed a “smart living glue” made from engineered gut bacteria that can detect internal bleeding and help repair intestinal damage, offering a targeted new approach to treating inflammatory bowel disease.
Mongolia has introduced a new decree to strengthen traditional Mongolian medicine and expand its international profile.
Save the Children has pledged to expand maternal and child health services across Afghanistan after its new country director met the country’s public health minister in Kabul on Wednesday.
China has announced plans to fully cover childbirth-related costs for families as authorities move to incentivise young couples to have more children.
World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said on Thursday that he still hopes the U.S. administration will reconsider its decision to withdraw from the organisation next month, warning that its exit would be a loss for the world.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment