AstraZeneca has struck a deal to acquire biotechnology EsoBiotec for up to $1bn, as the London-listed pharmaceuticals group expands its investments in cell therapies for treating cancer.

The deal includes the Belgian biotech’s vivo cell-therapy platform, which modifies immune cells within the patient’s body, potentially increasing access to treatment and reducing costs.

AstraZeneca, headquartered in Cambridge, could pay up to $1 billion on a cash and debt-free basis for Belgian company EsoBiotec to advance its cell therapy ambitions.