AstraZeneca boosts oncology pipeline

7th Oct 2013 07:55

AstraZeneca announced Monday that MedImmune, its global biologics research and development arm, completed the acquisition of Amplimmune, a privately-held, US-based biologics company focused on developing novel therapeutics in cancer immunology. The deal was made to boost its oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy (IMT-C) portfolio. The business is currently building what it describes as "one of the most comprehensive programmes in IMT-C". It explained that 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". MedImmune acquired 100% of Amplimmune's shares for an initial consideration of $225m and deferred consideration of up to $275m, based on reaching pre-determined development milestones.NR