Nov. 1 Quick Takes: AZ takes stake in Cellectis, eyes 25 targets in deal
Plus: RTW acquiring Arix Bioscience, and updates from Aldeyra, AbbVie, Silence, Lilly, Sitryx and more
Under a new development collaboration that includes an equity investment in Cellectis S.A. (Euronext:ALCLS; NASDAQ:CLLS), AstraZeneca plc (LSE:AZN; NASDAQ:AZN) will have options to develop up to 10 cell and gene therapy products created from a group of 25 undisclosed targets agreed upon by the partners. The pharma is paying $25 million up front and acquiring a 22% stake in the French biotech by investing $80 million via the purchase of 16 million shares at $5. AstraZeneca may purchase up to $140 million in additional equity, and Cellectis is eligible for $70-$220 million in milestones for each product covered by the deal. The equity purchase valued Cellectis at about $360 million; its shares rose 174% on NASDAQ during Wednesday’s session, lifting its market cap above $145 million.
Months after Arix Bioscience plc (LSE:ARIX) said it was considering options including a wind-down of operations, the firm has agreed to a proposed acquisition by RTW Investments. The firm said it will provide “an enhanced return potential” for Arix’s assets as it seeks to create value from the portfolio. The firms’ planned share exchange values Arix at £1.43 per share, a 46% premium to its closing price of 98p on July 12 before it announced its strategic review...