AstraZeneca announces a definitive agreement to acquire Gracell Biotechnologies, a clinical-stage biopharmaceutical company developing innovative cell therapies for the treatment of cancer and autoimmune diseases.

This acquisition will enrich AstraZeneca's portfolio with GC012F, a CAR-T cell therapy currently being evaluated in clinical trials in multiple hematological malignancies and autoimmune diseases.

Under the terms of the agreement, upfront and potential payments represent a transaction value of up to approximately $1.2 billion, representing an 86% premium to Gracell's closing share price on December 22.

The transaction is expected to close in the first quarter of 2024, subject to customary conditions, including regulatory approvals and the approval of the acquired company's shareholders.

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