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AstraZeneca PLC on Monday said it completed its acquisition of Neogene Therapeutics Inc, a clinical-stage biotechnology company focused on the discovery, development and manufacturing of T-cell receptor therapies.
Neogene Therapeutics now will operate as a wholly-owned subsidiary of the Cambridge-based pharmaceutical company, with operations in both Amsterdam and Santa Monica, California.
AstraZeneca bought Neogene Therapeutics for an initial payment of $200 million in November last year. It will pay an additional consideration of up to $120 million if milestones are met.
TCR-Ts are emerging as a promising therapeutic modality in cancer treatment.
Last Friday, Astra said its Tezspire has been approved for self-administration in the EU in a new pre-filled pen, for severe asthma patients aged 12 years and older.
Shares were up 0.4% at 11,702.00 pence each on Monday morning in London.
By Xindi Wei, Alliance News reporter
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