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Swedes buy US cancer research firm

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Swedes buy US cancer research firm
00:35 CEST+02:00
AstraZeneca said on Tuesday that it has agreed to buy US-based cancer drugs company Amplimmune, as the Anglo-Swedish pharmaceuticals group seeks to bolster its flagging pipeline of new products.

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.

AFP/The Local/at

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