In a landmark deal that could reshape cancer treatment approaches, pharmaceutical giant AstraZeneca has acquired Belgian biotech firm EsoBiotec for $1 billion. The transaction, which has now closed, includes $425 million paid upfront with an additional $575 million tied to specific development and regulatory milestones.
Founded in 2020 by Jean-Pierre Latere, a Congolese-born Belgian scientist, EsoBiotec has developed a revolutionary in vivo cell therapy platform that could dramatically simplify CAR-T treatment to a single injection, potentially expanding access to patients worldwide while reducing costs.
From Personal Motivation to Scientific Breakthrough
The genesis of EsoBiotec stemmed from Latere's personal experience with cancer in his family and his professional insights gained at Celyad Oncology (formerly Cardio3BioScience), where he witnessed firsthand the limitations of traditional autologous CAR-T manufacturing.
"I had a member of family dealing with solid tumor cancer," Latere shared. "I knew CAR-T could potentially solve that, but I grappled with how to produce them for a large population."
This challenge led to EsoBiotec's core innovation: turning patients into their own cell therapy factories through in vivo engineering. Unlike conventional CAR-T approaches that require extracting cells, modifying them in a lab, and reinfusing them—a process fraught with logistical and clinical hurdles—EsoBiotec's technology engineers cells directly inside the patient.
The ENaBL Platform: A Paradigm Shift
At the heart of AstraZeneca's interest is EsoBiotec's Engineered NanoBody Lentiviral (ENaBL) platform. This technology represents a fundamental shift in cell therapy delivery, potentially reducing treatment times from weeks to days while significantly cutting costs.
The first patient was treated with this approach in December 2023, with what company sources described as "exceptional" results published in January 2024. These early clinical outcomes reportedly "shocked" AstraZeneca executives when they reviewed the data.
The platform specifically targets solid tumors—an area where traditional CAR-T therapies have struggled to demonstrate consistent efficacy. "We are changing the landscape and pushing people to believe the solid tumor is where you need to do it," Latere explained.
A Capital-Constrained Success Story
Perhaps most remarkable about EsoBiotec's journey is how the company thrived despite significant capital constraints. While competitors in the cell therapy space routinely raised hundreds of millions in venture funding, EsoBiotec operated on a comparatively modest €22 million ($24.9 million).
The company began with just €250,000 ($283,000) from family and friends. "I had never raised money before," Latere noted. "The first money that I raised was from my wife who is a lawyer." This initial funding helped unlock €1.5 million in non-dilutive funds from the Walloon government.
In September 2021, the company secured a €6 million pre-series A round, combining non-dilutive funding from the Walloon Government with seed investments from venture capital firm Thuja Capital and regional funding agencies Sambrinvest and SRIW Life Sciences.
"When you're capital constrained, you have to be creative," Latere explained. This constraint forced disciplined decision-making and strategic partnerships, including manufacturing collaborations in China that accelerated their timeline.
From Lab to Acquisition: A Rapid Trajectory
EsoBiotec's journey from founding to acquisition occurred at remarkable speed in an industry known for lengthy development timelines. After hiring its first employee in January 2021—"the most expensive, extremely good CSO," according to Latere—the company quickly built a focused team with a product development mindset.
The relationship with AstraZeneca developed rapidly after the pharma giant reached out following a press release about EsoBiotec's technology. During a dinner at the JP Morgan Healthcare Conference in San Francisco, AstraZeneca executives surprised Latere by suggesting they "join forces."
"I was surprised. I was looking for partnerships," Latere recalled of the moment.
The Path Forward
With AstraZeneca's global resources now behind the technology, EsoBiotec's innovations are positioned for accelerated development and commercialization. Industry analysts project the first product could reach the market within five to six years.
The acquisition represents a significant addition to AstraZeneca's oncology portfolio, potentially providing the pharmaceutical company with a next-generation platform in the competitive cell therapy landscape.
For Latere, whose journey took him from Lubumbashi, Congo, to the University of Liège in Belgium, where he earned a Ph.D. in polymer chemistry, followed by postdoctoral work at the University of Michigan, the acquisition marks an extraordinary milestone in a career dedicated to advancing cancer treatment options.
"We couldn't say we are a platform company," he admitted, "but we are changing the landscape" of cancer treatment. With AstraZeneca's backing, that change could soon benefit cancer patients worldwide.
