Owners
Neogene Therapeutics is a Dutch biotechnology company founded in 2018 that specializes in the development and manufacture of next-generation T cell receptor (TCR-T) therapies, which the developers say provide a new approach to cell therapy to fight cancer.
History
2022: AstraZeneca bought Neogene for $320m
At the end of November 2022, AstraZeneca announced the purchase of Neogene Therapeutics for $320 million. Under the terms of the agreement, the company sold will first receive $200 million, and the remaining $120 million will be distributed within several tranches.
The uptake is supposed to give AstraZeneca access to TCR-Ts, which have the potential to fight solid tumors. After the deal closes, Neogene will become a subsidiary of AstraZeneca with units in Amsterdam and California.
 | Neogene's T cell receptor discovery capabilities and extensive manufacturing experience will complement the cellular therapy capabilities we have been working on for the past three years, "noted AstraZeneca Executive Vice President of Cancer Research Susan Galbraith. |  |
In turn, Neogene CEO Karsten Linnemann stated the following:
| | Our expertise, clinical portfolio and platform technologies in this area, combined with AstraZeneca's leadership in oncology and global presence, mean that we are well positioned to translate innovative approaches into new treatments for intractable cancers. | |
By November 2022, roughly a third of AstraZeneca's revenue comes from cancer drugs, yet the company still does not have its own cell-based cancer therapy. In this regard, the company lags behind competitors such as Novartis and Gilead. The sale of Neogene Therapeutics to AstraZeneca is scheduled to close in the first quarter of 2023, it must be approved by regulators in several countries in advance.[1]
Notes
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