Amgen to Acquire Teneobio for $2.5 Billion to Accelerate Development of Novel Antibody Therapeutics

Article Source: Jike Pharma News

On July 27, Amgen and Teneobio announced an agreement under which Amgen will acquire Teneobio. The latter is a clinical-stage biotechnology company developing a novel class of heavy chain antibody-based biologics. Under the terms of the agreement, Amgen will acquire all outstanding shares of Teneobio at closing for an upfront payment of $900 million, plus potential future milestone payments of up to $1.6 billion to Teneobio’s equity holders.

This acquisition includes TeneoBio's proprietary bispecific and multispecific antibody technologies, which will significantly accelerate the speed and efficiency of discovering and developing new molecules with the potential to treat various important diseases across Amgen's core therapeutic areas. These platforms complement Amgen's existing antibody capabilities by adding a heavy-chain antibody platform that enables a streamlined, sequence-based discovery approach for target binders. TeneoBio's novel T cell engager platform expands Amgen's existing leadership in bispecific T cell engagers by providing a differentiated yet complementary approach to Amgen's current BiTE platform.

The acquisition will also add TNB-585 to Amgen’s pipeline, a bispecific T-cell engager for the treatment of metastatic castration-resistant prostate cancer (mCRPC) currently in Phase 1 clinical trials, as well as several preclinical oncology pipeline assets with the potential for near-term Investigational New Drug (IND) applications. TNB-585 complements Amgen’s existing prostate cancer portfolio, including acapatamab (formerly AMG 160) and AMG 509, both in Phase 1 clinical trials.

Note: The original text has been abridged.

References:

[1] Amgen To Acquire Privately Held Teneobio For $900 Million In Cash With Future Contingent Milestone Payments. Retrieved 2021-07-28, from https://www.prnewswire.com/news-releases/amgen-to-acquire-privately-held-teneobio-for-900-million-in-cash-with-future-contingent-milestone-payments-301342565.html

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