10/15/2013

AstraZeneca's MedImmune unit agreed to acquire Spirogen, a privately held biotech firm focused on antibody-drug conjugate technology, for $200 million upfront plus $240 million in milestone fees as part of efforts to strengthen its oncology research and development pipeline. The agreement includes a $20 million equity investment in Switzerland's ADC Therapeutics, which has a licensing deal with Spirogen. ADC's and Spirogen's technologies will allow MedImmune to "accelerate antibody-drug conjugates into the clinic," MedImmune Executive Vice President Bahija Jallal said.

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