AstraZeneca announced today that it has completed the acquisition of Gracell Biotechnologies, a global clinical-stage biopharmaceutical company developing innovative cell therapies for the treatment of cancer and autoimmune diseases.

The acquisition enhances AstraZeneca's growing portfolio of cell-based therapies, including GC012F, a potential new treatment for multiple myeloma, as well as other hematological malignancies and autoimmune diseases, including systemic lupus erythematosus (SLE).

Gracell will operate as a wholly-owned subsidiary of AstraZeneca, with operations in China and the USA.

AstraZeneca has acquired the entire fully diluted share capital of Gracell by way of a merger for a price of $2.00 per common share plus a non-negotiable contingent value right of $0.30 per common share.

The initial cash portion of the consideration represents a transaction value of approximately $1.0 billion. Together, the initial and potential payments represent, if realized, a transaction value of approximately $1.2 billion.

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