💊 AstraZeneca is acquiring Chinese company Gracell Biotechnologies for $1.2bn to boost its cell therapy projects. 🌍🦠 Gracell develops cell therapies for cancer and autoimmune diseases and will operate as a subsidiary of AstraZeneca. 🚀 The acquisition is expected to close in Q1 2024.
📢 AstraZeneca Acquires Chinese Biotech Gracell for $12bn
Introduction:
Pharmaceutical giant AstraZeneca plans to acquire Chinese company Gracell Biotechnologies for $1.2 billion in order to strengthen its cell therapy projects.
Main points:
- AstraZeneca aims to bolster its cell therapy projects by acquiring Gracell Biotechnologies for $1.2 billion.
- Gracell Biotechnologies specializes in developing cell therapies for cancer and autoimmune diseases.
- The acquisition will make Gracell a wholly owned subsidiary of AstraZeneca, with branches in China and the USA.
- The deal is expected to close in the first quarter of 2024, subject to regulatory approvals and shareholder approval.
- Gracell’s leading pipeline product is GC012F, a dual-targeting autologous CAR-T therapy for multiple myeloma and systemic lupus erythematosus.
Conclusion:
AstraZeneca’s acquisition of Gracell Biotechnologies will enhance its cell therapy capabilities and expand its presence in China and the USA. This strategic move demonstrates AstraZeneca’s commitment to advancing innovative treatments for cancer and autoimmune diseases.
