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.
Russia published addresses of manufacturers allegedly producing drones or components for Ukraine on Wednesday (15 Apr...
U.S. President Donald Trump says Israeli and Lebanese leaders have agreed to a 10-day ceasefire that includes Hezbollah, raising cautious hopes of ...
The U.S. House of Representatives has narrowly voted to block an effort to rein in Donald Trump’s authority to conduct military operations ag...
Georgia’s parliament has approved fast-tracked amendments to the Law on Grants, introducing new exemptions and ...
RRussian Foreign Minister Sergey Lavrov’s visit to Beijing is placing China’s diplomacy under closer scrutiny, as it balances its partn...
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.
Dubai’s most iconic hotel, the Burj Al Arab, is set to close for the first time since opening in 1999 as it begins an extensive 18-month refurbishment aimed at preserving its status as a global symbol of luxury.
The U.S. and Iran could resume peace talks over the next couple of days, U.S. President Donald Trump has said. Talks between Israel and Lebanon were held in Washington yesterday. Fuel prices have dropped below $100 a barrel. U.S. blockade on Iranian ports completes first day.
Azerbaijan and Russia have announced a formal settlement over the 2024 crash of an Azerbaijan Airlines (AZAL) Embraer 190 near Aktau, confirming that all outstanding issues, including compensation, have been resolved.
U.S. President Donald Trump said on Thursday that there was a "good chance" of a peace deal between Lebanon and Israel happening soon, after he announced a 10-day ceasefire between the two countries.
Türkiye is reeling after a second school shooting in as many days, after a 14-year-old student killed nine people - eight pupils and one teacher - and wounded 13 others at a middle school in the south-eastern province of Kahramanmaraş on Wednesday, officials said.
A Chinese biotechnology company is stepping up efforts to combine artificial intelligence (AI) with advanced genetic testing in a bid to improve the success rates of in vitro fertilization (IVF), while also tapping into growing demand for fertility services.
Austria’s government on Friday approved plans to introduce a nationwide ban on social media use for children under the age of 14, alongside reforms to upper secondary school curricula aimed at boosting media literacy and Artificial Intelligence (AI) education from the 2027/28 academic year.
The UK Health Security Agency (UKHSA) said that as of Wednesday evening, it has identified six new cases of meningococcal disease in Kent, bringing the total of confirmed or suspected cases to at least 27.
The Scottish Parliament has voted against legalising assisted dying, ending a years-long campaign to make Scotland the first part of the UK to allow the practice.
The war in the Middle East is beginning to disrupt the flow of critical medicines to Gulf countries, raising concerns about the supply of cancer treatments and other temperature-sensitive drugs, according to pharmaceutical industry executives.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment