Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. AstraZeneca PLC
  6. News
  7. Summary
    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Odyssey buys drugmaker BenevolentAI in Europe's biggest SPAC deal

12/06/2021 | 12:37pm EST

LONDON, Dec 6 (Reuters) - Amsterdam-listed Odyssey has agreed to buy BenevolentAI in a deal valuing the British-based pharmaceuticals firm at up to 1.5 billion euros after the transaction, the biggest acquisition by a European special purpose acquisition vehicle (SPACs) to date.

Odyssey, a 300 million euro ($338 million) SPAC backed by the founders of M&A advisory Zaoui & Co and the former head of Natixis Investment Managers, will raise an additional 135 million euros to pay for the deal and cover transaction fees.

Net transaction proceeds from the deal are up to 390 million euros and the money is being raised from investors including Singapore's Temasek and drugmaker AstraZeneca.

In a statement, the companies said their deal represents the largest European SPAC merger to date and one of Amsterdam's biggest biotech listings.

Several SPACs have listed in Amsterdam, potentially boosting the Dutch financial capital's credentials as a hub for fast-growing companies. London has only hosted one major SPAC in 2021, after updating its rules to make them easier.

Blank cheque vehicles allow companies to obtain a market listing without going through an initial public offering (IPO).

BenevolentAI's Chief Executive Joanna Shields said it had developed an artificial intelligence (AI) platform that allowed it to understand the underlying causes of a disease and increase the probability that a candidate drug will succeed.

With more than 20 programmes in its portfolio, BenevolentAI needed capital to scale its pipeline, she said. It had been considering a crossover fund raise later this year and a listing next year, before the opportunity offered by Odyssey.

"There was a real synergy between the teams," she said. "It's a fast route to a large pool of capital."

Olivier Brandicourt, former Sanofi CEO, and Jean Raby, former CEO of Natixis, will join BenevolentAI's board. ($1 = 0.8855 euros) (Reporting by Emma-Victoria Farr, Abhinav Ramnarayan and Paul Sandle; Editing by Rachel Armstrong and Alexander Smith)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -1.11% 8744 Delayed Quote.0.85%
SANOFI -2.13% 90.94 Real-time Quote.2.66%
All news about ASTRAZENECA PLC
01/21Investor's Net Asset Value Jumps 41% in 2021 As Low Interest Rate Environment Uplifts R..
MT
01/20ASTRAZENECA : Deutsche Bank reaffirms its Buy rating
MD
01/20EMA : In january 2022, prac concluded that transverse myelitis should be added to the prod..
RE
01/20EMA Says Spikevax Product Information To Be Updated To Include Paraesthesia As Rare Sid..
RE
01/19India's expert panel advises full approval for Covishield, Covaxin
RE
01/19ASTRAZENECA : JP Morgan reiterates its Buy rating
MD
01/19AstraZeneca PLC Announces Positive Results from the TOPAZ-1 Phase III Trial
CI
01/19Imfinzi plus chemotherapy reduced risk of death by 20% in 1st-line advanced biliary tr..
AQ
01/19AstraZeneca Says Liver Cancer Combination Therapy Improved Overall Survival in Late-Sta..
MT
01/19AstraZeneca Says Imfinzi Combination Shows Unprecedented Liver-Cancer Survival Rate
DJ
More news
Analyst Recommendations on ASTRAZENECA PLC
More recommendations
Financials (USD)
Sales 2021 36 096 M - -
Net income 2021 2 714 M - -
Net Debt 2021 24 816 M - -
P/E ratio 2021 57,3x
Yield 2021 2,37%
Capitalization 184 B 184 B -
EV / Sales 2021 5,78x
EV / Sales 2022 4,73x
Nbr of Employees 76 100
Free-Float 96,4%
Chart ASTRAZENECA PLC
Duration : Period :
AstraZeneca PLC Technical Analysis Chart | AZN | GB0009895292 | MarketScreener
Technical analysis trends ASTRAZENECA PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Last Close Price 118,62 $
Average target price 138,69 $
Spread / Average Target 16,9%
EPS Revisions
Managers and Directors
Pascal Soriot Chief Executive Officer & Executive Director
Aradhana Sarin Chief Financial Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Menelas NICOLAS Pangalos EVP-Biopharmaceuticals Research & Development
Pam P. Cheng Executive VP-Operations & Information Technology
Sector and Competitors
1st jan.Capi. (M$)
ASTRAZENECA PLC0.85%183 867
JOHNSON & JOHNSON-3.40%434 036
ROCHE HOLDING AG-4.87%319 830
PFIZER, INC.-10.60%296 303
ABBVIE INC.-2.53%233 325
ELI LILLY AND COMPANY-11.98%220 356