AstraZeneca announced today that it has successfully completed the acquisition of Icosavax, a US biopharmaceutical company focused on the development of 'differentiated high-potential vaccines'.

Following this acquisition, Icosavax becomes a subsidiary of AstraZeneca, with operations in Seattle, USA.

The acquisition will strengthen AstraZeneca's pipeline, including IVX-12, Icosavax's lead investigational vaccine candidate (ready for phase III) against RSV and human metapneumovirus (hMPV).

The acquisition was effected by way of a tender offer to purchase all outstanding shares of Icosavax for an initial price of $15 per share, plus a contingent value right of up to $5 per share.

Together, the initial and contingent value rights payments, if realized, represent a transaction value of approximately $1.1 billion.

At the expiry of the tender offer, 35,912,932 representing approximately 70.7% of Icosavax's outstanding common shares had been tendered.

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