British AstraZeneca completes acquisition of Chinese biotech Gracell
British pharma company AstraZeneca announced the successful completion of acquiring Gracell Biotechnologies, it said on Thursday. Gracell will now function as a wholly-owned subsidiary of AstraZeneca, with operations in China and the US. According to the definitive agreement, AstraZeneca has purchased all of Gracell's fully diluted share capital through a merger for $2.00 per ordinary share in cash at closing. Additionally, a non-tradable contingent value right of $0.30 per ordinary share in cash will be paid upon reaching a specific regulatory milestone. The initial cash payment accounts for ...