AbbVie Partners with Teneobio to Co-Develop BCMA/CD3 Bispecific Antibody TNB-383B for Multiple Myeloma with $90M Upfront Payment

Today, AbbVie and Teneobio, along with its subsidiary TeneoOne, jointly announced that they have reached a global strategic agreement for the co-development and commercialization of TNB-383B. TNB-383B is a bispecific antibody that simultaneously targets B-cell maturation antigen (BCMA) and CD3, designed to direct the body’s immune system to target and kill tumor cells expressing the BCMA antigen. Teneobio submitted an Investigational New Drug (IND) application for TNB-383B in January 2019 for the treatment of multiple myeloma.

Under the terms of the agreement, TeneoOne will receive a $90 million upfront payment to continue the development of TNB-383B through Phase 1 clinical trials. At that point, AbbVie will hold an exclusive option to acquire TeneoOne and lead the subsequent global development and commercialization of TNB-383B. Should AbbVie exercise its acquisition option for TeneoOne, the former shareholders of TeneoOne will be eligible to receive regulatory and sales milestone payments.

TNB-383B (Image source: Teneobio official website)

Teneobio is dedicated to leveraging its TeneoSeek antibody discovery engine to rapidly identify a vast array of unique molecules that bind to specific therapeutic targets for the treatment of cancer, autoimmune diseases, and infectious diseases. TeneoSeek is a drug discovery platform that integrates two genetically engineered animal models, UniRat® and OmniFlic®, with next-generation sequencing, bioinformatics, and high-throughput vector assembly technologies. Teneobio’s product pipeline includes a trispecific antibody for the treatment of lymphoma, a Gp120 bispecific antibody for the treatment of HIV, and monospecific and bispecific immune checkpoint inhibitors.

“Developing novel targeted therapies for cancer patients remains a top priority for AbbVie,” said Dr. Mohit Trikha, Vice President and Head of Early Oncology Development at AbbVie. “Multiple myeloma, one of the most common hematologic cancers, represents an area with significant unmet medical needs. Teneobio’s novel approach to T-cell redirection using TNB-383B has the potential to become a new therapeutic option, bringing new hope to patients with myeloma.”

Dr. Roland Buelow, Chief Executive Officer of TeneoBio and TeneoOne, stated, “We are pleased to collaborate with AbbVie to develop our first clinical candidate, TNB-383B. It utilizes TeneoBio’s unique T-cell redirecting platform to target BCMA. By combining this with AbbVie’s efforts to advance science and bring oncology products to the global market, we will be able to rapidly advance the development of TNB-383B.”

References:

[1] AbbVie and Teneobio Announce a Strategic Transaction to Develop a New Treatment for Multiple Myeloma. Retrieved Feb.11, 2019, from https://www.prnewswire.com/news-releases/abbvie-and-teneobio-announce-a-strategic-transaction-to-develop-a-new-treatment-for-multiple-myeloma-300792888.html

[2] AbbVie to Co-Develop Teneobio’s Lead Candidate for Multiple Myeloma, Gains Acquisition Option. Retrieved Feb.11, 2019, from https://www.genengnews.com/news/abbvie-to-co-develop-teneobios-lead-candidate-for-multiple-myeloma-gains-acquisition-option/

Source: WuXi AppTec