Business & Tech
MedImmune Pays up to $420 Million for Spirogen
Gaithersburg-based company struck deal with ADC Therapeutics.
MedImmune has bought London-based Spirogen—a deal worth up to $420 million—and has struck a deal with another firm, ADC Therapeutics, it’s parent company AstraZeneca announced Tuesday.
The business ventures will focus on fighting cancer—the development of tumor-targeting cancer fighters and cancer therapy that draws from the power of the people’s immune systems, according to a news release from AstraZeneca.
Under the deal, MedImmune, which is based in Gaithersburg, will pay $200 million up front and could pay as much as $240 if Spirogen meets certain benchmarks, according to the news relezse.
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MedImmune also made a $20 million equity investment in ADC Therapeutics, which already has a license agreement with Spirogen.
The deals were aimed at strengthening the company’s oncology portfolio, according to the news release, and comes shortly after MedImmune acquired Amplimmune, a deal that was mean to support cancer research.
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