AZ acquires cell therapy play Esobiotech, Taiho acquires ADC partner Araris: Deals Report

Two nine-figure M&A deals for European start-ups announced Monday showed the buyers’ willingness to pay for private biotech platform technologies, while rewarding investor syndicates heavy with local and regional firms.

Astrazeneca plc (LSE:AZN; NASDAQ:AZN) is paying $425 million up front to acquire Esobiotec S.A., a Belgian company that has generated early clinical evidence in China for an in vivo cell therapy targeting BCMA. In January, Esobiotec said the first multiple myeloma patient dosed with CAR T therapy ESO-T01 had undetectable minimal residual disease in bone marrow at 28 days; the treatment requires no immunodepletion...