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UPDATE: AstraZeneca completes USD1.1 billion acquisition of Icosavax

Mon, 19th Feb 2024 15:39

(Alliance News) - AstraZeneca PLC on Monday said it has completed the acquisition of Icosavax Inc.

The Cambridge-based pharmaceutical announced the purchase back in January. The deal was valued at up to USD1.1 billion for Icosavax, a US-based biopharmaceutical company focused on the development of vaccines against respiratory viruses.

According to AstraZeneca, Icosavax's lead investigational vaccine candidate IVX-A12 is a "potential first-in-class" for targeting both respiratory syncytial virus and human metapneumovirus.

As a result of the acquisition, Icosavax has become a subsidiary of AstraZeneca, with operations in Seattle, US.

Earlier on Monday, AstraZeneca announced new study data and a new approval for its cancer medication Tagrisso.

The company reported positive analysis from its Laura phase III trial for Tagrisso in lung cancer.

The treatment, following chemoradiotherapy, showed a "meaningful improvement in progression-free survival" for a group of sufferers of non-small cell lung cancer, versus those in the placebo group.

Overall survival data showed a "favourable trend" for Tagrisso, but Astra noted the data "were not mature" at the time of the analysis. The trial will continue to assess overall survival as a secondary endpoint.

Separately, the firm announced Tagrisso with chemotherapy received US approval from the Food & Drug Administration for use in locally advanced or metastatic epidermal growth factor receptor-mutated non-small cell lung cancer.

Further, Astra noted its biologics licence application for datopotamab deruxtecan has been accepted by the FDA.

The application, made alongside Tokyo-based pharmaceutical firm Daiichi Sankyo Co Ltd, concerned the drug's use in the treatment of adult patients with locally advanced or metastatic nonsquamous non-small cell lung cancer who have received prior systemic therapy.

Susan Galbraith, AstraZeneca's executive vice president of Oncology Research & Development, said: "Datopotamab deruxtecan has the potential to offer patients with previously treated advanced nonsquamous non-small cell lung cancer an effective and tolerable alternative to conventional chemotherapy.

"With regulatory discussions ongoing around the world and a parallel submission underway in the US in breast cancer, this is only the beginning of our efforts to make this novel treatment available to patients as quickly as possible."

AstraZeneca shares rose 3.4% to 10,440.00 pence each on Monday afternoon in London. Daiichi Sankyo shares closed 0.1% lower at JPY4,873.00 each in Tokyo.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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