According to the Russian Satellite News Agency on December 27, the British-Swedish pharmaceutical giant AstraZeneca announced that it had reached an agreement on the acquisition of Shanghai-based Genxi Biotech. Gracell Biotech is committed to the research and development of innovative cells for cancer and autoimmune diseases.
AstraZeneca issued a statement on its **, saying: "AstraZeneca has reached a definitive agreement to acquire Gracell Biotech***. ”
The statement also said that the deal, which is worth about $1.2 billion, will help AstraZeneca accelerate the development of more efficient cells**.
According to the report, the T cells developed by Gracell Biotech are helpful for multiple myeloma, other malignant hematological tumors and lupus erythematosus.
The report also said that the transaction is expected to close in the first quarter of 2024, subject to the approval of Gracell shareholders. As part of the agreement, the Shanghai-based company will become a subsidiary of AstraZeneca, operating in the United States and China.
AstraZeneca's booth at the first China International ** Chain Promotion Expo held in Beijing in November. (Reuters).