Pharma BD Deal Intelligence
AstraZeneca acquired Nasdaq-listed, China-headquartered clinical-stage cell-therapy company Gracell Biotechnologies in a merger announced 26 December 2023 and completed 22 February 2024. Shareholders received $2.00 per ordinary share (or per ADS) in cash at closing -- an upfront transaction value of approximately $1.0 billion -- plus a non-tradable contingent value right (CVR) of $0.30 per share payable on achievement of a specified regulatory milestone, taking the total potential consideration to approximately $1.2 billion. The acquisition centred on GC012F (now AZD0120), a FasTCAR-enabled, dual-targeting (BCMA and CD19) autologous CAR-T therapy with next-day manufacturing, in development for relapsed/refractory multiple myeloma and B-cell-driven autoimmune disease including systemic lupus erythematosus. The deal expanded AstraZeneca's cell-therapy footprint and added China-based manufacturing and clinical capabilities.