AstraZeneca entered an agreement to acquire Neogene Therapeutics Inc., a global clinical-stage biotechnology company focused on the discovery, development, and manufacturing of next-generation T-cell receptor therapies (TCR-Ts) targeting cancer, for a total consideration of up to $320 million. This will include an initial payment of $200 million on closing, and a further $120 milion in potential milestones.
 
The transaction is expected to close 1Q23, subject to customary closing conditions and regulatory clearances. 
 
Neogene’s expertise in TCR-T discovery, development and manufacturing will strengthen AstraZeneca’s goal of bringing cell therapies to patients with solid tumors
 
TCR-Ts are emerging as a promising therapeutic modality in cancer treatment. Most current cell therapy approaches in oncology focus on modifying the immune system’s T cells to recognize proteins expressed on the surface of cancer cells. In contrast, TCR-Ts can recognize intracellular targets, including cancer-specific mutations, thereby potentially unlocking targets previously inaccessible using cell therapies.
 
Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said, “This acquisition represents a unique opportunity to bring innovative science and leading experts in T-cell receptor biology and cell therapy manufacturing together with our internal oncology cell therapy team, unlocking new ways to target cancer. Neogene’s leading TCR discovery capabilities and extensive manufacturing experience complement the cell therapy capability we have built over the last three years and allow us to accelerate the development of potentially curative cell therapies for the benefit of patients.”
 
Carsten Linnemann, PhD, Chief Executive Officer, Neogene, said, “We are excited to work together with AstraZeneca towards our shared mission of transforming the treatment options for patients with solid tumours using next-generation T-cell receptor therapies. Our expertise, clinical portfolio and platform technologies in this area combined with AstraZeneca’s leadership in oncology and global footprint mean we are well-positioned to translate pioneering science into novel treatments for hard-to-treat cancers.”
 
Neogene will operate as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, U.S.