(RTTNews.com) – Astrazeneca plc Tuesday said its global biologics research and development arm, MedImmune, has agreed to buy privately-held Definiens, which would strengthen MedImmune’s focus on the discovery of novel predictive biomarkers in immuno-oncology.
Definiens is into imaging and data analysis technology, known as Tissue Phenomics, which dramatically improves the identification of biomarkers in tumour tissue.
Under the agreement, MedImmune will acquire Definiens’ shares for an initial payment of $150 million and make additional predetermined milestone payments.
Bahija Jallal, Executive Vice President of MedImmune commented: “Definiens’ technology will complement our immuno-oncology approach and allow us to accelerate further our clinical programmes through its highly precise predictive and prognostic biomarker testing.”
The transaction is expected to close in the fourth quarter of 2014.