AstraZeneca Finalizes Equity Investment Deal with Cellectis

AstraZeneca has confirmed the successful conclusion of its equity investment agreement with Cellectis, a clinical-stage biotech firm. The investment, along with a research collaboration deal unveiled in November 2023, aims to harness Cellectis’ proprietary gene editing technologies and manufacturing capabilities to develop up to 10 innovative cell and gene therapy products targeting areas of significant unmet medical need, such as oncology, immunology, and rare diseases.

Financial Breakdown: In the fourth quarter of 2023, Cellectis received an initial payment of $105 million from AstraZeneca. This sum included a $25 million upfront cash payment as per the research collaboration agreement terms, along with an $80 million equity investment. An additional $140 million equity investment, priced at $5 per share, has now been finalized, subject to customary closing conditions like Cellectis shareholders’ approval and regulatory clearances. With the completion of this second investment, AstraZeneca now owns approximately 44% of Cellectis’ equity. AstraZeneca intends to continue treating its Cellectis investment as an associate. Under the research collaboration agreement, Cellectis is entitled to an investigational new drug (IND) option fee, as well as development, regulatory, and sales-related milestone payments, ranging from $70 million to $220 million per product candidate, in addition to tiered royalties. AstraZeneca retains the option for a worldwide exclusive license for the candidate products developed under the research collaboration, to be exercised prior to IND filing.

Additional Notes: Alexion, AstraZeneca Rare Disease arm, is dedicated to serving patients and families affected by rare diseases through the discovery, development, and delivery of transformative medicines. With a rich history spanning over three decades, Alexion has been a pioneer in translating complex biology into groundbreaking medicines. AstraZeneca is at the forefront of oncology innovation, striving to provide effective cancer treatments in all its forms. Through relentless scientific pursuit, AstraZeneca aims to understand cancer complexities and develop life-changing medicines for patients. The company’s focus lies in addressing some of the most challenging cancers, with a diverse portfolio and pipeline that have the potential to redefine cancer care and ultimately eradicate it as a cause of death. AstraZeneca, headquartered in Cambridge, UK, is a global biopharmaceutical company driven by science, specializing in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Operating in over 100 countries, AstraZeneca’s innovative medicines benefit millions of patients worldwide.

Source Link

Newsletter Updates

Enter your email address below and subscribe to our newsletter