British drug major AstraZeneca said on Monday it has entered into a definitive agreement to acquire EsoBiotec, a Belgianbiotech company, for up to $1 billion on a cash and debt-free basis. The consideration includes an initial payment of $425 million on deal closing, and up to $575 million in contingent consideration based on development and regulatory milestones.
The transaction is expected to close in the second quarter of 2025. EsoBiotec will become a wholly owned subsidiary of AstraZeneca, with operations in Belgium. AstraZeneca said the acquisition does not impact its financial guidance for 2025.
EsoBiotec will help AstraZeneca expand its cell-therepy portfolio.
This acquisition includes EsoBiotec's ENaBL platform, which empowers the immune system to attack cancers.
Susan Galbraith, executive vice president of AstraZeneca, said: "We are excited about the acquisition of EsoBiotec and the opportunity to rapidly advance their promising in vivo platform. We believe it has the potential to transform cell therapy and will enable us to scale these innovative treatments so that many more patients around the world can access them."
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