AstraZeneca (AZN) has agreed to acquire EsoBiotec for a total consideration of up to $1 billion, EsoBiotec said Monday.
The consideration consists of an initial payment of $425 million, and up to $575 million in contingency payments.
The deal includes EsoBiotec's Engineered NanoBody Lentiviral delivery platform which has potential application in cancer therapy, the biotechnology company said.
Closing of the deal is expected to occur in Q2, subject to customary closing conditions.
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