AstraZeneca PLC (LSE:AZN) entered into agreement to acquire Neogene Therapeutics, Inc. for $320 million on November 29, 2022. Neogene will operate as a wholly owned subsidiary of AstraZeneca, with operations in Amsterdam, the Netherlands and California, US. AstraZeneca will acquire all outstanding equity of Neogene for a total consideration of up to $320 million, on a cash and debt free basis.

This will include an initial payment of $200 million on deal closing, and a further up to $120 million in both contingent milestones-based and non-contingent consideration. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions and regulatory clearances. The transaction does not impact AstraZeneca's financial guidance for 2022.