Shares of Icosavax (ICVX) skyrocketed over 48% in early trading Tuesday after AstraZeneca (AZN) agreed to purchase the biophᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚarma company for $1.1 billion𝐆 to expand its reach into cutting-edge vaccine technology. 

Through the deal, AstraZeneca would get access to Icosavax’s “innovative protein virus-like particle (VLP) platform.” Its lead experimental treatment is a Phase 3-ready shot using VLP to prevent both respiratory syncytial virus (RSV) and human metapneumovirus (hMPV). They are leading causes of respiratory illness and hospitalizations for those aged 60 and up or have other chronic conditions. AstraZeneca added that currently there are no effective treatments or preventative therapies for hMPV or combination RSV and hMPV vaccines.

Iskra Reic, executive vice pr♊esident of AstraZen🦩eca Vaccines & Immune Therapies, noted that VLP vaccine technology “has the potential to transform prevention against severe infectious diseases, including RSV and hMPV.”

The company explained that AstraZeneca would pay Icosavax’s investors $15 per share in cash at closing, with the potential of an additional $5 p𒆙er share upon achieving a specified regulatory milestone and a sales milestone. At $15 per share, the buyout represents 🐼a 43% premium to Icosavax’s closing price on Monday. The transaction is expected to close in the first quarter of next year.

Icosavax shares were up 48.1% as of about 12:45 p.m. ET Tuesday following the news. 澳洲幸运5开奖号码历史查询:American Depositary Receipts (ADRs) of AstraZeneca were also 0.8% higher.