Major Anglo-Swedish pharmaceutical company, AstraZeneca, recently confirmed its acquisition of Nasdaq-listed Gracell Biotechnologies, a Chinese cell therapy developer focused on creating treatments for cancer and autoimmune diseases. The deal, valued at $1.2 billion, is being guided by an international selection of legal counsel, including Cooley and Freshfields Bruckhaus Deringer, China-based AllBright Law Offices and RuiMin Law Firm, and Cayman law advisors from Maples Group and Harney Westwood & Riegels.
The acquisition allows AstraZeneca, one of the largest pharmaceutical companies in China, to expand its capabilities in the region, particularly in the area of cell therapies. The resurgence in China’s cross-border M&A activity, following a significant drop to its lowest level since 2014, potentially signals a gradual economic recovery in the region, based on recent data by PwC.
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