LONDON and PARIS — AstraZeneca, the renowned British pharmaceutical company, has announced a substantial investment of $245 million in the French biotech firm Cellectis to pioneer cutting-edge gene therapies.
AstraZeneca's initial commitment involves a $105 million equity investment, securing a 22% stake in Cellectis. This investment comprises an $80 million stock purchase and $25 million in cash.
By early 2024, AstraZeneca intends to further inject $140 million into Cellectis, contingent on obtaining the necessary approvals, which would elevate its total ownership to 44%.
The primary objective of this collaboration is to leverage Cellectis' gene editing expertise to develop innovative cell and gene therapies across fields such as oncology, immunology, and rare diseases. AstraZeneca's goal is to enrich its pipeline of next-generation treatments.
As part of the agreement, Cellectis stands to gain up to $220 million in milestone payments per candidate, in addition to royalties. AstraZeneca secures options for exclusive licenses, enhancing its position in the gene therapy landscape.
Gene editing holds great promise for addressing defects that lead to diseases and for engineering cell-based therapies. Cellectis specializes in TALEN technology, renowned for its precision in DNA editing.
This partnership brings together AstraZeneca's substantial resources and Cellectis' state-of-the-art platform, reflecting the increasing interest of major pharmaceutical companies in gene therapy, driven by recent advancements in the field.
For Cellectis, the collaboration provides the necessary funding to advance its pipeline and validate its technology. Simultaneously, AstraZeneca is taking strides to fortify its long-term therapeutics portfolio through the power of gene editing.
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