AstraZeneca announced on Monday that it will acquire the Belgian biotechnology company ISOBiotech for $1 billion.
Traditional cell therapy involves extracting cells from a patient, genetically modifying them, and reinjecting them into the body.
ISOBiotech has the technology to genetically modify immune cells directly within the body, reducing the current “transformative cell therapy” time from several weeks to just a few minutes.
Recently, AstraZeneca has been actively enhancing its capabilities in cell therapy development, particularly in oncology, while expanding its international operations.
In December 2023, AstraZeneca acquired China’s Gracell Biotechnologies for $1.2 billion, and in February 2024, it announced plans to invest $300 million in cell therapy development.
The company stated that it is in the early stages of clinical development and will focus on expanding research efforts to accelerate the progress of cell therapy development.
As part of this deal, AstraZeneca will pay an upfront payment of $425 million and, contingent on milestones, an additional $575 million.
The transaction is expected to close in the second quarter of this year, and ISOBiotech, based in Belgium, will become a wholly-owned subsidiary of AstraZeneca.
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