AstraZeneca Completes $1.3-Bn Acquisition of TeneoTwo

AstraZeneca has completed its acquisition of TeneoTwo, a bio/pharmaceutical company, in a deal worth up to $1.3 billion ($100 million upfront, up to $805 million in additional contingent R&D-related milestone payments, and up to $360 million in additional contingent commercial-related milestone payments). The companies had announced the acquisition last month (July 2022).

The acquisition adds to AstraZeneca’s position in developing drugs to treat blood cancers, including B-cell hematologic malignancies, including diffuse large B-cell lymphoma and follicular lymphoma.

TeneoTwo’s key asset is TNB-486, currently in Phase I development, for treating relapsed and refractory B-cell non-Hodgkin lymphoma). TNB-486 belongs to a class of therapeutic antibodies known as T-cell engagers, which are emerging as a promising therapeutic approach in hematologic malignancies and solid tumors. T-cell engagers are bispecific molecules that are engineered to redirect the immune system’s T-cells to recognize and kill cancer cells. By binding to both CD19, an antigen expressed on B-cells, and to the CD3 receptor on T-cells, TNB-486 activates and recruits T-cells to CD19-expressing tumors where they can elicit an immune response.

The acquisition did not include the transfer of people or facilities.

Source: AstraZeneca