AstraZeneca buys Spirogen to bolster cancer drug technology
AstraZeneca announced its MedImmune unit acquired Spirogen, a biotech company focused on antibody-drug conjugate technology for oncology.
AstraZeneca strengthened its oncology portfolio on Tuesday, October 15, 2013, through the acquisition of Spirogen, a privately-held biotechnology company.
MedImmune, AstraZeneca's global biologics research and development arm, acquired Spirogen, which specializes in antibody-drug conjugate (ADC) technology for cancer treatment. The deal also includes a collaboration with ADC Therapeutics to jointly develop two preclinical ADC programs.
MedImmune will pay an initial $200 million for Spirogen, with up to $240 million in deferred payments contingent on achieving development milestones. Additionally, MedImmune is making a $20 million equity investment in ADC Therapeutics.
Antibody-drug conjugates are a validated cancer drug technology that delivers potent cytotoxic agents directly to cancer cells while sparing healthy tissue. Spirogen's proprietary pyrrolobenzodiazepine (PBD) technology utilizes these agents, attached via biodegradable linkers to cancer-targeting antibodies, to optimize drug delivery and minimize patient toxicity.