Achilles Therapeutics has sold certain technology assets to drug giant AstraZeneca for $12 million following a review of strategic alternatives by the clinical-stage biopharmaceutical company.
Achilles on Tuesday said the deal includes transfer of the proprietary data and samples from the TRACERx non-small cell lung cancer study and the London company's material acquisition platform to AstraZeneca.
Achilles in September said it would implement cost-cutting measures, including a workforce reduction, and launch a review of its options after ending development of its TIL-based cNeT therapy and ending a pair of clinical trials.
The company on Tuesday said it plans to undertake additional measures, including a further workforce reduction and a decrease in the size of its board, while remaining compliant with Nasdaq and Securities and Exchange Commission requirements.
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