Swedes buy US cancer research firm
28 Aug 2013, 00:35
Published: 28 Aug 2013 00:35 GMT+02:00
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Under the deal, MedImmune will acquire 100 percent of Amplimmune's shares for an initial price of $225 million, with another $275 million deferred until it reaches key drug-development milestones.to fight cancer will be complemented by Amplimmune's innovative work in this area," said Bahija Jallal, executive vice president of MedImmune. "It will allow us to strengthen our arsenal of potential cancer therapies.
"We are excited to be working with the Amplimmune team to help find new treatments to address areas of unmet medical need."
"AstraZeneca today announced that MedImmune, its global biologics research and development arm, has entered into a definitive agreement to acquire Amplimmune, a privately-held, Maryland, US-based biologics company focused on developing novel therapeutics in cancer immunology," a statement said.
"MedImmune's focus on harnessing the power of the patient's own immune system
Amplimmune is AstraZeneca's latest acquisition under new chief executive Pascal Soriot, who joined in October last year. The London-listed group purchased US firm Pearl Therapeutics in June for up to $1.15 billion.