AstraZeneca moves to acquire Belgian biotech firm EsoBiotec for $1B
UK-Swedish pharmaceutical company AstraZeneca has announced a $1 billion acquisition deal for Belgian biotech firm EsoBiotec, with $425 million to be paid upfront.
Elena Whitmore 
Agreement signals AstraZeneca’s push in oncology research
UK and Sweden-based drugmaker AstraZeneca has signed a definitive agreement to acquire EsoBiotec, a Belgium-based biotechnology company focused on cancer therapies. The proposed acquisition, valued at $1 billion, includes an upfront payment of $425 million, according to a statement shared by AstraZeneca. The deal is part of the company’s broader strategy to strengthen its research and development in oncology, an area it continues to prioritize in its global operations.
Transaction expected to close in mid-2025
The completion of the acquisition is subject to regulatory approvals and other customary closing conditions. The company expects the transaction to be finalized in the second quarter of 2025. A spokesperson from AstraZeneca stated that the acquisition is projected to close once “necessary clearances are obtained.”
EsoBiotec to bring expertise in immune-based cancer treatment
Founded in Belgium, EsoBiotec has built its portfolio around cancer treatment solutions that target the immune system. The company’s platform and clinical pipeline are likely to complement AstraZeneca’s existing work in immuno-oncology. The acquisition is expected to integrate EsoBiotec's research teams and technology into AstraZeneca’s global R&D network.
This acquisition aligns with AstraZeneca’s ongoing investment in biotech innovation across Europe, aiming to enhance its capabilities in developing targeted therapies through scientific collaboration and portfolio expansion.
