AstraZeneca shells out $150M for cancer Dx outfit Definiens

AstraZeneca ($AZN) wants to build up its oncology presence, and its latest acquisition could help the company on its way. The drugmaker's MedImmune division shelled out $150 million upfront and additional milestone payments for Definiens, a diagnostic outfit with imaging technology that identifies biomarkers in tumor tissue and provides a more accurate way to assess tissue samples. Both sides stand to benefit from the deal, as new technology allows MedImmune to advance its combination therapies for cancer, and Definiens can harness the company's R&D clout to further its diagnostic platform. More | Release