AstraZeneca buys Md.-based biotech firm

LONDON — AstraZeneca has bought Maryland-based biotech company Amplimmune, the drug maker said.

AstraZeneca announced the acquisition of privately owned Amplimmune through its MedImmune biologics research and development subsidiary, saying it would boost its cancer drug pipeline. Amplimmune's pipeline includes several experimental treatments, such as AMP-514, a monoclonal antibody currently in preclinical development for which the company hopes to apply to start clinical trials before the end of the year.

"MedImmune's focus on harnessing the power of the patient's own immune system to fight cancer will be complemented by Amplimmune's innovative work in this area," MedImmune EVP Bahija Jallal said. "It will allow us to strengthen our arsenal of potential cancer therapies."