{"id":402304,"date":"2023-12-28T02:37:32","date_gmt":"2023-12-28T07:37:32","guid":{"rendered":"https:\/\/platohealth.ai\/astrazeneca-buys-chinese-gracell-biotechnologies-for-1-2bn\/"},"modified":"2023-12-28T04:45:02","modified_gmt":"2023-12-28T09:45:02","slug":"astrazeneca-buys-chinese-gracell-biotechnologies-for-1-2bn","status":"publish","type":"post","link":"https:\/\/platohealth.ai\/astrazeneca-buys-chinese-gracell-biotechnologies-for-1-2bn\/","title":{"rendered":"AstraZeneca buys Chinese Gracell Biotechnologies for $1.2bn","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
<\/div>\n
\n

Pharmaceutical giant AstrazZeneca wants to take over the Chinese company Gracell Biotechnologies in order to strengthen its cell therapy projects in a deal worth up to $1.2bn.<\/p>\n<\/p><\/div>\n

\n

Pharmaceutical giant Astrazeneca with CEO Pascal Soriot wants to take over the Chinese company Gracell Biotechnologies in order to strengthen its cell therapy projects. This was announced by the Swedish-British group on Tuesday. A total of around 1.2 billion US dollars has been earmarked for the purchase.<\/p>\n

Gracell Biotechnologies develops cell therapies for the treatment of cancer and autoimmune diseases. The company is to operate in future as a wholly owned subsidiary of Astrazeneca with branches in China and the USA. According to a statement from Astrazeneca the acquisition is expected to close in the first quarter of 2024, subject to customary closing conditions, including regulatory approvals, and Gracell shareholder approval.\n<\/p>\n

The Chinese biotech’s pipeline is led by GC012F, a BCMA and CD19 dual-targeting autologous CAR-T that is in a phase 1b\/2 trial in relapsed refractory multiple myeloma in the US and a trial in China, including refractory systemic lupus erythematosus. GC012F was developed using the company’s FasTCAR platform, which is designed to reduce manufacturing time and enhance T-cell fitness to improve treatment efficacy in patients.<\/p>\n<\/p><\/div>\n