Page 166 - CW E-Magazine (1-4-2025)

News from Abroad

ACQUISITION
AstraZeneca buys EsoBiotec for $1-bn to boost

cancer therapy capabilities

Pharma major, AstraZeneca, has the body as medicine, often a lengthy As part of the deal, AstraZeneca
agreed to buy Belgium-based biotechno- process. By engineering immune cells will pay $425-mn upfront and spend
logy firm EsoBiotec for up to $1-bn, as it directly within the patient’s body, the up to $575-mn in contingent payments
looks to bolster its cell therapy capabili- EsoBiotec in vivo approach has the based on milestones.
ties, particularly for cancer. potential to address many of the barriers
associated with traditional cell therapies, EsoBiotec will become a subsidiary
EsoBiotec’s platform has the poten- reducing complexities and manufactur- of AstraZeneca and maintain operations
tial to transform cell therapy, according ing timelines, thereby increasing access in Belgium. The transaction is expected
to AstraZeneca, by empowering the im- for patients. to close in the second quarter.
mune system to attack cancers. EsoBio-
tec’s technology can genetically modify “We are in the early stages in terms of AstraZeneca has been actively ad-
immune cells directly inside the body, clinical development, so our immediate vancing its cell therapy capabilities,
allowing for transformative cell therapy plans will be to scale up the discovery particularly in oncology, and has ex-
treatments in just minutes instead of the efforts,” said Susan Galbraith, AstraZeneca’s panded its global operations in recent
current process which can take weeks, executive vice president for oncology years. It bought China-based Gracell
AstraZeneca said. R&D. “EsoBiotec will accelerate and Biotechnologies for up to $1.2-bn in
expand the impact of our recent invest- December 2023 and, in February 2024,
Traditional cell therapies involve gene- ments and marks a major step forward in said it would invest $300-mn for the
tically modifying cells extracted from a realising our ambition to harness the full discovery and development of cell
patient, before re-introducing them into potential of cell therapy,” she added. therapies.
BIOPOLYMERS
Danimer Scientific files for bankruptcy

US-based biopolymer firm, Dani- reportedly grappling with a critical cash and fund the Chapter 11 cases. Danimer
mer Scientific, and its subsidiaries shortage and had defaulted on some plans to use loan proceeds to fund pay-
have voluntarily filed for Chapter 11 debt obligations. roll for remaining employees, satisfy
bankruptcy, following severe financial working capital and wind down
difficulties. The company said it will Danimer will seek approval from operations.
seek to operate its business and man- the bankruptcy court to enter into a
age properties as debtors in possession debtor-in-possession facility of $1-mn Danimer produced PHA bioplas-
while it winds down operations. It plans in new money loans on an interim tics under the Nodax trade name, with
to preserve an opportunity to sell its basis, and a total of up to $3-mn upon applications spanning plastic cutlery,
manufacturing facilities. final approval. It is seeking $12-mn straws, fibres, filaments, films, hot-
rolled-up from the existing super senior melt adhesives, and injection-moulded
The company recently filed a notice uninsured promissory note upon entry items. The company once showed
indicating its manufacturing plant in of the final debt-in-possession order. strong growth ambitions, evidenced
Bainbridge, Georgia, will close, result- by its 2021 acquisition of Novomer for
ing in 82 job losses. Of those, 40 were The proceeds from the loans will $152-mn and announced plans for a
let go on March 14. The company was be used to sustain Danimer’s business $700-mn expansion in Bainbridge.

PERSONAL CARE INGREDIENTS
Hallstar invests in biotech firm, BioReNuva

US-based personal care ingredients ReNuva, a biotechnology developer deal were not disclosed. BioReNuva
supplier, Hallstar, has invested in Bio- based in Texas. Financial terms of the offers has a range of glycolipids includ-

166 Chemical Weekly April 1, 2025

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