British drugmaker AstraZeneca has signed an agreement to acquire Neogene Therapeutics, a Dutch clinical-stage biotechnology company, for a total consideration of up to $320m.

The transaction consideration includes an initial payment of $200m upon closing, and contingent milestones-based and non-contingent consideration of up to $120m.

The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions and regulatory clearances.

Upon closing of the transaction, Neogene will operate as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, US.

AstraZeneca Oncology R&D executive vice president Susan Galbraith said: “This acquisition represents a unique opportunity to bring innovative science and leading experts in T-cell receptor biology and cell therapy manufacturing together with our internal oncology cell therapy team, unlocking new ways to target cancer.

“Neogene’s leading TCR discovery capabilities and extensive manufacturing experience complement the cell therapy capability we have built over the last three years and allow us to accelerate the development of potentially curative cell therapies for the benefit of patients.”

Neogene is a biotechnology company focused on discovering, developing, and manufacturing next-generation T-cell receptor therapies (TCR-Ts) targeting solid cancers.

The company is advancing a portfolio of TCR therapies targeting shared neoantigens, including mutated KRAS (mKRAS) and mutated TP53 (mTP53).

Neogene’s expertise in TCR-T discovery, development and manufacturing will support AstraZeneca’s goal of improving outcomes for patients with solid tumours.

Neogene chief executive officer Carsten Linnemann said: “We are excited to work together with AstraZeneca towards our shared mission of transforming the treatment options for patients with solid tumours using next-generation T-cell receptor therapies.

“Our expertise, clinical portfolio and platform technologies in this area combined with AstraZeneca’s leadership in oncology and global footprint mean we are well-positioned to translate pioneering science into novel treatments for hard-to-treat cancers.”

In a separate development, AstraZeneca has agreed to sell its West Chester site to National Resilience, a manufacturing company focused on complex medicines.

West Chester site is a 580,000ft2 commercial-scale facility in Ohio, US, and the acquisition includes the facility’s physical assets, leadership, employees, and other workforce.

In addition, National Resilience will also manufacture certain medicines in AstraZeneca’s portfolio at the facility, under a multi-year supply agreement.

The transaction is expected to close in early 2023, subject to receipt of regulatory approvals and satisfaction of other customary closing conditions.