AstraZeneca to Acquire Chinese Firm to Boost Cell Therapy Portfolio

An analyst said the proposed acquisition of Gracell ould be AstraZeneca’s way of getting more into cell therapy.

The logo for AstraZeneca outside its North America headquarters in Wilmington, Del., on March 22, 2021. Rachel Wisniewski/Reuters

AstraZeneca will buy a Chinese biopharmaceutical company for up to $1.2 billion to expand its cell therapies pipelines, the Anglo-Swedish pharmaceutical company announced on Tuesday.

It has entered into a definitive agreement to acquire Gracell Biotechnologies Inc. for $2 per ordinary share plus a non-tradable contingent value right of $0.3 per ordinary share.