Pharma BD Deal Intelligence
AstraZeneca agreed to acquire all outstanding equity of Neogene Therapeutics for up to $320M, including $200M on closing and up to $120M in contingent and non-contingent additional consideration. The deal added next-generation TCR-T discovery, development and manufacturing capabilities including individualized therapies and shared-neoantigen TCRs targeting mKRAS and mTP53. Closed Q1 2023. POST-CLOSE (as of AstraZeneca's H1/Q2 2025 results, 29 Jul 2025): AZ discontinued the lead Neogene asset NT-125 -- a fully-individualised, multi-specific neoantigen TCR-T (Phase I, EudraCT 2021-006406-73, first patient dosed Q2 2023) -- 'due to strategic portfolio prioritisation,' removing it from Phase I. The broader Neogene TCR-T platform was retained: AZ's pipeline still carries the shared-neoantigen programs central to the original rationale -- NT-112 (TGFBR2-KO armored TCR-T targeting KRAS G12D) and NT-175 (TGFBR2-KO armored TCR-T targeting TP53 R175H), both in solid tumours. The capability/platform thesis substantially holds; the lead individualized asset did not survive portfolio prioritisation.