MedImmune completes $500m acquisition of Amplimmune
AstraZeneca's global biologics research and development arm, MedImmune, has completed its acquisition of Amplimmune, in a deal worth up to US $500 million.
Amplimmune is a US-based biologics company that focuses on developing novel therapeutics in cancer immunology. The acquisition boosts MedImmune's oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy (IMT-C) portfolio, including AMP-514, an anti-programmed cell death 1 (PD-1) monoclonal antibody.
IMT-Cs are being designed to empower the immune system to counteract the tactics employed by cancer cells to avoid detection and attack the body.
Under terms of the acquisition, MedImmune will own 100% of Amplimmune's shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones.
Related news:
AstraZeneca shells out up to $500 million on acquisition (Interactive Investor)
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