By Ian Walker


AstraZeneca said it would buy U.S.-based clinical-stage biopharmaceutical company Icosavax for up to $1.1 billion in a deal that expands its vaccines and immune therapies late-stage pipeline.

The pharmaceutical giant is offering $15 for each Icosavax share held, a 43% premium to its closing market price of $10.49 on Monday.

An extra $5.00 a share in cash could be paid depending upon certain regulatory and sales milestones being met.

Icosavax has a protein virus-like particle platform technology used to develop vaccines against infectious diseases. Its initial focus is on life-threatening respiratory diseases, with a vision for combination and pan-respiratory vaccines.

"With the addition of Icosavax's Phase 3-ready lead asset to our late-stage pipeline, we will have a differentiated, advanced investigational vaccine, and a platform for further development of combination vaccines against respiratory viruses," said AstraZeneca's executive vice president, Vaccines & Immune Therapies, Iskra Reic.

AstraZeneca said it expects the acquisition to close in the first quarter of 2024.


Write to Ian Walker at


(END) Dow Jones Newswires

December 12, 2023 02:47 ET (07:47 GMT)

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