In a strategic move to bolster its position in the field of genetic medicine, AstraZeneca recently acquired a set of early-stage gene therapy products and related technologies from Pfizer. This significant move signals AstraZeneca's intent to become a major player in the rapidly evolving genetic medicine sector.
The deal, valued at up to $1 billion, was facilitated through its rare illness division, Alexion, which will now employ unique capsids, protein shells that protect gene treatments during delivery, to develop genetic medicines with improved safety and efficacy profiles.
AstraZeneca's decision to venture into genetic medicine comes after observing other pharmaceutical giants such as Novartis, Bristol-Myers Squibb, and Gilead heavily invest in cancer cell treatment over the last decade. While AstraZeneca was initially a bystander in this domain, it has been steadily building internal development and manufacturing capabilities and forming partnerships with startups working on innovative genetic therapies.
The turning point for AstraZeneca's genetic medicine pursuits was the game-changing acquisition of Alexion in 2020, worth a staggering $40 billion. This acquisition granted AstraZeneca, known for its focus on cancer, respiratory, and diabetic drugs, a foothold in the rare illness domain, which is a hotspot for genetic medicine research and development.
Following the acquisition, AstraZeneca made further strides by establishing a cell and gene therapy hub in Cambridge and collaborating with biotechnology firm LogicBio to access gene editing technologies and early rare illness treatment studies.
The recent transaction with Pfizer includes medication candidates and capsids for adeno-associated viruses used in delivering genetic therapies. According to Alexion CEO Marc Dunoyer, this acquisition is in line with AstraZeneca's goal of dominating the field of genomic medicine.
AstraZeneca's commitment to genetic medicine is evident from the establishment of enhanced platforms and technologies that have broad therapeutic applications. However, specific details about the projects remain undisclosed at this time. While the company currently lacks clinical-stage gene therapy or gene editing programs, the recent acquisitions and partnerships underscore its dedication to staying at the forefront of genetic medicine advancements.
As AstraZeneca dives deeper into genetic medicine, Pfizer has decided to scale back its early-stage gene therapy research, focusing instead on licensing viral vector gene treatments and gene-based therapies without modified viruses. This move allows Pfizer to streamline its research efforts while maintaining a presence in the genetic medicine landscape.
The deal was announced alongside AstraZeneca's impressive quarterly earnings of $11.4 billion in revenue, exceeding consensus expectations. Key revenue drivers included the successful performance of cancer medications Enhertu and Imfinzi.
Additionally, AstraZeneca revealed a change in leadership, appointing Sharon Barr as the new head of biopharmaceuticals R&D, replacing Mene Pangalos.
As the merger between AstraZeneca and Pfizer progresses, the latter is undergoing executive changes, with Chief Data Officer William Pao leaving the company to explore new opportunities outside Pfizer.
As AstraZeneca's genetic medicine journey unfolds, the pharmaceutical industry eagerly awaits the potential transformative impact of their genetic therapies on patients with rare illnesses and beyond.