AstraZeneca to Buy Cell Therapy Biotech for Up to $1 Billion (3)

AstraZeneca Plc, the UK drugmaker, agreed to buy the Belgian cell therapy developer EsoBiotec for as much as $1 billion to further boost its cancer capabilities.

AstraZeneca will pay $425 million upfront and may spend up to $575 million more in development and regulatory milestones, the companies said Monday.

As Chief Executive Officer Pascal Soriot reaps the rewards of doubling down on the competitive market for cancer medicines with blockbusters like Tagrisso, Astra is targeting the next generation of potential treatments.

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The AstraZeneca facility in Gaithersburg, Maryland, US.

Photographer: Graeme Sloan/Bloomberg

EsoBiotec’s platform has the potential to transform ...