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AstraZeneca in two ADC deals

October 15, 2013 11:15 PM UTC

The MedImmune LLC biologics unit of AstraZeneca plc (LSE:AZN; NYSE:AZN) announced two deals on Tuesday with antibody-drug conjugate (ADC) companies. MedImmune acquired Spirogen Ltd. (London, U.K.) for $200 million in cash up front, plus up to $240 million in milestones. MedImmune also partnered with ADC Therapeutics S.a.r.l. (Lausanne, Switzerland) to co-develop two of ADC's undisclosed preclinical cancer programs. ADC will receive an undisclosed upfront payment and is eligible for undisclosed development milestones. The biotech also has an option to co-promote one of the programs in the U.S. MedImmune and ADC will share costs and profits. ...