Biotech giant AstraZeneca has completed its $1.1B acquisition of Icosavax, a Seattle-based spinout from the University of Washington’s Institute for Protein Design. Icosavax will function as an AstraZeneca subsidiary with its operations in Seattle.
Founded in 2017, Icosavax is developing vaccines that resemble naturally occurring viruses. Its lead product targets respiratory viruses. The company raised more than $150 million from private investors before going public in 2021.