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AstraZeneca to invest $300 million in US facility for cell therapies

Credit: REUTERS/Brendan McDermid

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Feb 6 (Reuters) - AstraZeneca AZN.L said on Tuesday it will invest $300 million in a facility in Rockville, Maryland, for discovery and development of cell therapies.

More than 150 jobs will be created at the site in the United States to initially focus on manufacturing the cell therapies to enable clinical trials to be conducted, the company said, adding that the site may expand its focus to support other disease areas.

The Rockville facility marks the latest investment for AstraZeneca in cell therapies after its acquisition of Neogene Therapeutics and other agreements with cell therapy developers.

AstraZeneca is advancing early stage trials of several cell therapies in different types of cancer including liver and prostate cancer.

(Reporting by Sriparna Roy in Bengaluru; Editing by Shounak Dasgupta)

((Sriparna.Roy@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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