AstraZeneca signs $2 bln agreement with Quell to develop cell therapies

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AstraZeneca

AstraZeneca signs $2 bln agreement with Quell to develop cell therapies

June 9 (Reuters) – AstraZeneca (AZN.L) said on Friday it had signed an agreement with Quell Therapeutics potentially worth more than $2 billion to develop cell therapies that could cure autoimmune diseases.

The agreement includes developing, manufacturing and commercialising cell therapies that have the potential to be curative in type 1 diabetes and inflammatory bowel disease indications, the drugmaker said in a statement.

UK-based Quell will receive $85 million upfront from AstraZeneca, and is also eligible to receive over $2 billion for further development and commercialisation milestones, the company added.

Reporting by Radhika Anilkumar in Bengaluru; Editing by Rashmi Aich

Our Standards: The Thomson Reuters Trust Principles.

Source: Reuters

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