MedImmune, the global biologics research and development arm of AstraZeneca, has acquired Spirogen, a privately-held biotech company focused on antibody-drug conjugate technology for use in oncology.
MedImmune will acquire 100 per cent of Spirogen’s shares for an initial consideration of $200 million and deferred consideration of up to $240 million based on reaching predetermined development milestones. Existing out-licensing agreements and associated revenue streams are excluded from this acquisition.
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