Anglo-Swedish drugs giant AstraZeneca has agreed to buy privately owned UK biotech firm Kudos Pharmaceuticals in an all-cash £121m deal.
AstraZeneca sees Kudos as central to its cancer work
Founded by Cambridge University professor Stephen Jackson, Kudos is a cancer research specialist with 75 staff at two sites in the UK.
It uses DNA science to enhance chemotherapy and radiotherapy drugs.
AstraZeneca said it wanted Kudos to become the hub of its research into treating cancer using DNA.
Kudos currently has one compound in clinical development which could help fight breast and ovarian cancer, in addition to several other pre-clinical compounds and other programmes.
AstraZeneca is Europe's third-largest drugs company.