AstraZeneca Completes Acquisition of Gracell Biotechnologies Inc., Expanding Cell Therapy Portfolio
AstraZeneca has successfully finalized the acquisition of Gracell Biotechnologies Inc. (Gracell, NASDAQ: GRCL), a prominent global biopharmaceutical company specializing in innovative cell therapies for cancer and autoimmune diseases. This acquisition marks a significant advancement in AstraZeneca’s pursuit of excellence in cell therapy.
The acquisition significantly enhances AstraZeneca’s growing pipeline of cell therapies, notably with the addition of GC012F, a groundbreaking clinical-stage FasTCAR-enabled BCMA and CD19 dual-targeting autologous chimeric antigen receptor T-cell (CAR-T) therapy. GC012F holds promise as a potential treatment for multiple myeloma and other haematologic malignancies, as well as autoimmune diseases such as systemic lupus erythematosus (SLE).
Gracell will now operate as a wholly owned subsidiary of AstraZeneca, maintaining its operations in both China and the United States.
Financial details of the acquisition include AstraZeneca acquiring all of Gracell’s fully diluted share capital through a merger for $2.00 per ordinary share in cash at closing ($10.00 per ADS of Gracell), along with a non-tradable contingent value right of $0.30 per ordinary share ($1.50 per ADS of Gracell) in cash upon the achievement of a specified regulatory milestone. The upfront cash portion of the consideration amounts to approximately $1.0 billion, with the potential contingent value payments, if realized, totaling approximately $1.2 billion.
GC012F, Gracell’s FasTCAR-enabled BCMA/CD19 dual-targeting autologous CAR-T cell therapy, represents a pioneering approach in cancer and autoimmune disease treatment, aiming to deliver deep and enduring responses with an improved safety profile. Currently undergoing clinical studies for multiple haematologic malignancies and autoimmune diseases, GC012F has entered a Phase Ib/II trial in the United States for the treatment of relapsed or refractory multiple myeloma.
AstraZeneca’s commitment to revolutionizing care in haematology is further demonstrated through its acquisition of Alexion, which expands its reach to patients with high unmet needs in rare diseases. By leveraging its expertise in blood cancers, solid tumour oncology, and complement science inherited from Alexion, AstraZeneca is dedicated to developing novel therapies that target the underlying drivers of disease, with the ultimate goal of transforming patient outcomes.
In the realm of oncology, AstraZeneca continues to lead a transformative journey, driven by a steadfast dedication to understanding the complexities of cancer and delivering life-changing medicines to patients across the globe. With an extensive portfolio and pipeline focused on addressing some of the most challenging cancers, AstraZeneca remains steadfast in its vision to redefine cancer care and, ultimately, eradicate cancer as a cause of death.
Additionally, AstraZeneca’s Respiratory & Immunology division plays a pivotal role in the company’s BioPharmaceuticals segment, addressing significant unmet needs in chronic respiratory diseases and immune-mediated conditions. By pursuing innovative solutions, including inhaled medicines, biologics, and new modalities, AstraZeneca aims to achieve disease modification and durable remission for millions of patients worldwide.
While forward-looking statements may be included in this announcement, AstraZeneca acknowledges the inherent risks and uncertainties associated with such projections. Factors such as regulatory approvals, commercial success, and milestone achievements could impact the actual outcomes of GC012F and related products. AstraZeneca remains committed to transparency and will provide updates as necessary to reflect any material developments.
For further information about AstraZeneca and its portfolio of innovative medicines, please visit astrazeneca.com and connect with the company on social media @AstraZeneca.
