Pharmaceutical giant AstraZeneca writes $440m cheque for UCL spin-out Spirogen.
Spirogen, a life sciences spin-out of University College London, has been acquired by pharmaceutical conglomerate AstraZeneca for $440m.
The trade sale, made through AZ subsidiary MedImmune, will see AstraZeneca pay $200m up front in cash with a further $240m in return for the firm achieving developmental milestones.
Spirogen is developing cancer-fighting technology known as proprietary pyrrolobenzodiazepine. The process essentially designates tumours with biodegradable linkers which then attract cytoxic agents, colloquially known as warheads, to the site. This provides direct delivery…
