AstraZeneca said in a statement that the purchase will involve a 200 million USD upfront payment, as well as an additional 120 million USD based on meeting specified objectives. Subject to regulatory approvals, the transaction is scheduled to conclude in the first quarter of 2023. Firm also stated that the purchase will have no effect on its financial projections for 2022.

AstraZeneca said that the acquisition intends to capitalize on Neogene's experience in the research and manufacture of so-called T-cell receptor treatments, which provide a novel approach to treating cancer patients with solid tumours. Neogene will operate as an AstraZeneca wholly owned subsidiary with operations in the United States and the Netherlands. This purchase provides a once-in-a-lifetime chance to combine cutting-edge research and premier professionals in T-cell receptor biology and cell therapy manufacturing with our internal oncology cell therapy team, opening new avenues for cancer treatment.

Movement of AstraZeneca in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/azn:us

https://www.cityam.com/astrazeneca-buys-therapy-firm-neogene-for-266m-in-latest-bid-to-tackle-cancer/

https://finance.yahoo.com/news/astrazeneca-acquires-biotech-neogene-320m-051207755.html

https://www.investing.com/news/stock-market-news/astrazeneca-acquires-biotech-neogene-for-320m-in-bid-to-expand-cancer-treatments-2953453