MedImmune, AstraZeneca s biologics research and development arm has bought Spirogen, a privately-held biotech firm focused on antibody-drug conjugate technology for use in oncology.
According to the drugs giant, MedImmune has also inked a collaboration agreement with ADC Therapeutics to together develop two of the latter s antibody-drug conjugate programmes in preclinical development. MedImmune will moreover make an equity investment in ADC Therapeutics, which has a current licensing agreement with Spirogen.
MedImmune will purchase all of Spirogen s shares for an initial consideration of $200m and deferred consideration of up to $240m based on reaching predetermined development milestones.
Dr. Bahija Jallal, Executive Vice President of MedImmune stated: Antibody-drug conjugates are ground-breaking technologies with the potential for directly targeting many types of cancer tumours while safeguarding healthy cells. The cutting-edge technologies developed by Spirogen and ADC Therapeutics complement MedImmune s innovative antibody engineering capabilities, enabling us to accelerate antibody-drug conjugates into the clinic.