AstraZeneca inks $555 million gene-editing technology deal with Algen, FT reports

A company logo is seen at the AstraZeneca site in Macclesfield, Britain, May 11, 2021. REUTERS/Phil Noble

(Reuters) -AstraZeneca has signed a $555 million deal with a San Francisco-based biotech business Algen Biotechnologies, The Financial Times reported on Monday.

The agreement with Algen gives AstraZeneca exclusive rights to develop and commercialise therapies from the Crispr gene-editing technology, the report said.

Reuters could not immediately confirm the FT report.

(Reporting by Raechel Thankam Job in Bengaluru; Editing by Rashmi Aich)