With this acquisition, the Anglo-Swedish drugmaker wants to strengthen its vaccines and immune therapies late-stage pipeline with Icosavax’s lead investigational vaccine candidate, IVX-A12, as well as the company’s expertise and capabilities in VLP particle science and development.

IVX-A12 is a potential first-in-class, Phase 3-ready, combination protein VLP vaccine which targets both respiratory syncytial virus (RSV) and human metapneumovirus (hMPV). According to AstraZeneca, there are currently no treatments or preventative therapies for hMPV and no combination vaccines for RSV.

As VLP vaccines mimic how naturally occurring viruses appear to the body’s immune system, they may offer potential benefits over non-VLP vaccines, including a stronger immune response, greater breadth of protection, greater durability requiring fewer boosters and, compared to the current adjuvanted RSV vaccine, a lower incidence of side effects.

Iskra Reic, AstraZeneca’s executive vice president, Vaccines & Immune Therapies, said: “This virus-like particle vaccine technology has the potential to transform prevention against severe infectious diseases, including RSV and hMPV. With the addition of Icosavax’s Phase 3-ready lead asset to our late-stage pipeline, we will have a differentiated, advanced investigational vaccine, and a platform for further development of combination vaccines against respiratory viruses.”

Adam Simpson, CEO of Icosavax, added: “We are pleased to announce the proposed acquisition of Icosavax by AstraZeneca as we believe it offers the opportunity to accelerate, and expand access to, our potential first-in-class combination vaccine for older adults at risk of RSV and hMPV.”

Under the terms of the agreement, AstraZeneca,will initiate a tender offer to acquire all of Icosavax’s outstanding shares for a price of $15.00 per share in cash at closing, plus a non-tradable contingent value right for up to $5.00 per share in cash payable upon achievement of a specified regulatory milestone and a sales milestone.