Source: Pharmaceutical Technology
Source: Pharmaceutical Technology
The acquisition, initially agreed in December 2023, positions Gracell as a wholly owned AstraZeneca subsidiary with operations continuing in the US and China. AstraZeneca will acquire all of Gracell’s fully diluted share capital, including that represented by American depositary shares, through a merger for $2 per ordinary share in cash. This is in addition to a non-tradable contingent value right of $0.3 per ordinary share payable upon achievement of a specified regulatory milestone.
The upfront cash portion of the consideration represents a transaction value of $1.0bn.
Source: Pharmaceutical Technology
Source: Pharmaceutical Technology
Currently in the clinical stage of development, GC012F is a FasTCAR-enabled BCMA and CD19 dual-targeting autologous chimeric antigen receptor T-cell (CAR-T) therapy. This month, AstraZeneca announced a $300m investment in a new facility in Rockville, Maryland. This investment is a significant step in launching its cell therapy platforms in the US, advancing critical cancer trials and preparing for future commercial supply. The new facility is expected to create 150 skilled jobs, primarily focusing on the production of T-cell therapies to support clinical trials worldwide.
Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.
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