AstraZeneca To Buy EsoBiotec For Up To $1B

Reuters (3/17, Monnappa) reports, “Drugmaker AstraZeneca has agreed to buy Belgium-based biotechnology firm EsoBiotec for up to $1 billion, it said on Monday, seeking to accelerate the development of its cell therapy capabilities, particularly for cancer.” EsoBiotec’s technology is able to “genetically modify immune cells directly inside the body, allowing for transformative cell therapy treatments in just minutes instead of the current process which can take weeks, AstraZeneca said.” As part of the deal, “AstraZeneca will pay $425 million up front and spend up to $575 million in contingent payments based on milestones.” The deal “is expected to close in the second quarter of 2025, making EsoBiotec a wholly-owned subsidiary of AstraZeneca with operations in Belgium.”