AstraZeneca completes equity investment in Cellectis

AstraZeneca has completed an equity investment in Cellectis, a clinical-stage biotechnology company.

The Cambridge-based biopharma announced the investment and research collaboration in November 2023, and paid an initial payment of $105million to Cellectis. This included a $25m upfront cash payment under the collaboration agreement and an $80m equity investment.

An additional $140m investment, at $5 per share, has now closed after satisfactory customary closing conditions, including Cellectis shareholders’ approval and regulatory clearances.

It gives AstraZeneca about a 44 per cent stake in Cellectis, which it said it will continue to treat as an associate.

The deal is designed to leverage Cellectis’ proprietary gene editing technologies and manufacturing capabilities to create up to 10 novel cell and gene therapy products for areas of high unmet need, including oncology, immunology and rare diseases.

Under the terms of the research collaboration, Cellectis is eligible to receive an investigational new drug (IND) option fee and development, regulatory and sales-related milestone payments, ranging from $70m up to $220m, for each of the 10 candidate products, plus tiered royalties.

AstraZeneca will retain an option for a worldwide exclusive licence for the candidate products developed under the research collaboration agreement, to be exercised before IND filing.

Cellectis is based in Paris, New York and North Carolina.