Amgen Completes $2.5-Bn Acquisition of TeneobioBy
Amgen has completed its acquisition of Teneobio, a Newark, California-based clinical-stage bio/pharmaceutical company developing human heavy-chain antibodies, in a deal worth up to $2.5 billion ($900 million upfront and up to an additional $1.6 billion in contingent milestone payments).
The acquisition includes Teneobio’s bispecific and multispecific antibody technologies, which enable the discovery and development of new molecules that have the potential to treat a wide range of diseases across Amgen’s core therapeutic areas. The acquisition also adds Teneobio’s TNB-585, a Phase I bispecific T cell-engager for treating metastatic castrate-resistant prostate cancer as well as several preclinical oncology pipeline assets with the potential for near-term investigational new drug (IND) filings. TNB-585 complements Amgen’s existing prostate-cancer portfolio, which includes acapatamab and AMG 509, both in Phase I development.
In June 2021, AbbVie acquired TeneoOne, a Teneobio affiliate, which includes TNB-383B, an anti-CD3/BCMA (B-cell maturation antigen) bispecific antibody for treating relapsed or refractory multiple myeloma. Prior to the close of the Amgen acquisition, Teneobio distributed existing equity holders all equity held in three Teneobio affiliates: TeneoTwo (anti-CD19/CD3), TeneoFour (anti-CD38 enzyme inhibitor) and TeneoTen (anti-HBV/CD3).