AstraZeneca Completes Equity Investment Agreement with Cellectis

AstraZeneca Completes Equity Investment Agreement with Cellectis

By, Admin 7 May 2024

Overview

AstraZeneca announced the successful completion of an equity investment with Cellectis, a clinical-stage biotechnology company.

Terms of Agreement

The equity investment and a research collaboration agreement, announced in November 2023 will leverage the Cellectis proprietary gene editing technologies and manufacturing capabilities, to design up to 10 novel cell and gene therapy products for areas of high unmet need, including oncology, immunology and rare diseases.

Payment Details

  • In Q4 2023, Cellectis received an initial payment of $105 million from AstraZeneca, which comprised a $25 million upfront cash payment under the terms of a research collaboration agreement and an $80 million equity investment.
  • An additional $140 million equity investment, at $5/share, has closed following the satisfaction of customary closing conditions including Cellectis shareholders’ approval and regulatory clearances. 
  • Post-closing of this second investment, AstraZeneca holds a total equity stake of c.44% in Cellectis. AstraZeneca expects to continue to treat its investment in Cellectis as an associate.

Terms of the Research Collaboration

Under the terms of the research collaboration, Cellectis is also eligible to receive an investigational new drug (IND) option fee and development, regulatory and sales-related milestone payments, ranging from $70 million up to $220 million, per each of the 10 candidate products, plus tiered royalties.

Worldwide Exclusive License

AstraZeneca retains an option for a worldwide exclusive license for the candidate products developed under the research collaboration agreement, to be exercised before IND filing.

Alexion: A Pioneering Leader in Rare Disease

  • Alexion, AstraZeneca Rare Disease is focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development and delivery of life-changing medicines. 
  • A pioneering leader in rare disease for more than three decades, Alexion was the first to translate the complex biology of the complement system into transformative medicines, and today it continues to build a diversified pipeline across disease areas with significant unmet need, using an array of innovative modalities. 
  • As part of AstraZeneca, Alexion is continually expanding its global geographic footprint to serve more rare disease patients around the world. It is headquartered in Boston, US.

AstraZeneca

AstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.

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