AstraZeneca to buy oncology-focused Spirogen for up to $440 million

LONDON (Reuters) - British drugmaker AstraZeneca said on Tuesday its MedImmune unit would buy biotech company Spirogen for up to $440 million to bolster its oncology portfolio. Privately held Spirogen focuses on antibody-drug conjugate technology, which has the potential to directly target cancer tumors while safeguarding healthy cells, AstraZeneca said. AstraZeneca said it would pay an initial $200 million plus a further $240 million if Spirogen meets development targets. ...



via Health News Headlines - Yahoo! News http://news.yahoo.com/astrazeneca-buy-oncology-focused-spirogen-440-million-062947157--sector.html