In a strategic move, AstraZeneca has entered into a licensing deal worth over $100 million with Cellectis, a New York-based biotech company specializing in off-the-shelf cell therapy. The collaboration will focus on utilizing Cellectis' gene editing technology and manufacturing capacity to develop up to 10 cell and gene therapy products. AstraZeneca will have exclusive access to 25 genetic targets for this purpose.

As part of the deal, AstraZeneca will provide $25 million in upfront cash to Cellectis and make an initial equity investment of $80 million. The investment will give AstraZeneca a 22% stake in Cellectis, along with 21% of the voting rights. Furthermore, a memorandum of understanding has been established for a potential additional investment of $140 million in the future.

Under the agreement, Cellectis will be eligible to receive milestone payments ranging from $70 million to $220 million for each of the 10 candidates developed, in addition to royalties from any successfully marketed therapies. The funding injection from AstraZeneca comes at a crucial time for Cellectis, as the company had only $89 million in funds as of the end of June.

The deal signifies a renewed interest in Cellectis by AstraZeneca, despite the biotech's decision just five months ago to discontinue its multiple myeloma CAR-T candidate, UCARTCS1. Cellectis opted to focus its resources on three other clinical-stage candidates: UCART22, UCART123, and UCART20x22.

AstraZeneca's Chief Strategy Officer, Marc Dunoyer, acknowledged Cellectis' expertise in gene editing and manufacturing as a complementary addition to AstraZeneca's own capabilities. The collaboration aims to leverage these strengths to accelerate the development of innovative cell and gene therapies.

The market has responded positively to the news, as Cellectis' stock surged from 97 cents to $2.62 in premarket trading following the announcement. The investment by AstraZeneca demonstrates its confidence in Cellectis' potential and positions AstraZeneca with a significant stake in the biotech company.

The partnership between AstraZeneca and Cellectis marks an important step forward in the field of cell and gene therapy. With an ambitious goal of developing 10 new therapies, this collaboration has the potential to revolutionize treatment options in the coming years.