Date: 2013-08-26
Type of information: Company acquisition
Acquired company: Amplimmune (USA)
Acquiring company: MedImmune (USA - global biologics arm of AstraZeneca (UK)
Amount: up to $275 million
Terms: * On October 7, 2013, AstraZeneca has announced that on 4 October MedImmune, its global biologics research and development arm, has completed its acquisition of Amplimmune. Upon completion of the acquisition, MedImmune acquired 100 per cent of Amplimmune’s shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones.* On August 26, 2013, AstraZeneca has announced that MedImmune, its global biologics research and development arm, has entered into a definitive agreement to acquire Amplimmune, a privately-held, Maryland, US-based biologics company focused on developing novel therapeutics in cancer immunology. Under the terms of the agreement, MedImmune will acquire 100 per cent of Amplimmune’s shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones. The proposed transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2013.
Details: The acquisition will bolster MedImmune’s oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy (IMT-C) portfolio, including AMP-514, an anti-programmed cell death 1 (PD-1) monoclonal antibody. AMP-514 is currently in late-stage pre-clinical development with the aim of an investigational new drug (IND) filing before the end of 2013. Amplimmune has also developed two other biologic product candidates: AMP-224 is in Phase 1b trials in cancer; AMP-110 for autoimmune diseases in partnership with Daiichi Sankyo. Other Amplimmune assets include multiple preclinical molecules targeting the B7 pathways.
MedImmune has currently several pre-clinical and clinical stage programmes in immune-mediated cancer therapy. These products include tremelimumab, anti-OX40 mAb and MEDI-4736 (anti-PD-L1 mAb).
Related: Cancer-Oncology
