AstraZeneca to Acquire Gracell Biotechnologies for ~$1.2B
Shots:
- AstraZeneca has signed a definitive agreement to acquire Gracell Biotechnologies with an expectation to enhance its cell therapy pipeline with the acquisition of Gracell’s lead assets
- As per the agreement, Gracell’s stakeholders will receive $2/share in cash at a 62% one-day premium adding to a total up front of ~$1B & are also eligible to receive up to $200M at $0.3/share CVRs upon achieving regulatory milestones. The transaction is expected to close by Q1’24
- Gracell’s lead assets acquired by AstraZeneca include GC-012F (MM & Non-Hodgkin's lymphoma), GC-502 (B-cell lymphoblastic leukemia), GC-509 (acute myeloid leukemia), GC-508 (MM), GC-506 (solid tumors) & other technology platforms incl. FasTCART & TruUCART
Ref: Gracell Biotechnologies | Image: Gracell Biotechnologies
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Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
