Astrazeneca pharmaceutical maker said on Monday that it will buy ESOBIOTEC biotechnology for one billion dollars.
Astrazeneca said the ESOBIOTEC platform designed by Esobiotec can genetically adjust immune cells directly inside the body, allowing transforming cell treatments in just minutes instead of the current process that takes weeks.
Astrazneca will buy all the shares owed to ESOBIOTEC on the basis of cash and debt -free, which includes a preliminary payment of $ 425 million on closing deals, and up to $ 575 million in consideration based on developmental monuments and organizational monuments.
The company said that the deal is expected to be closed in the second quarter of 2025, and does not affect the financial guidance of Astrazneca for 2025.
