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Amgen pays $900m upfront to acquire Teneobio’s antibody assets, R&D technologies

Amgen will gain antibody technologies designed to discover and develop new molecules with broad applications across therapeutic areas

Amgen has announced that it will acquire Teneobio for $900m upfront, gaining a portfolio of early-stage oncology antibody assets and R&D technologies in the process.

The agreement will see Amgen acquire all outstanding shares of Teneobio at closing for $900m, with future contingent milestone payments worth up to an additional $1.6bn.

In return, Amgen will gain Teneobio’s bispecific and multispecific antibody technologies, designed to enable the discovery and development of new molecules with broad applications across therapeutic areas.

Amgen already has its own antibody technology – known as BiTE – which enables the identification and development of bispecific T cell engager antibodies.

Amgen’s BiTEs work by attaching themselves to both a cancer cell and T cell, bringing them together so the body’s immune system can kill the cancer.

Teneobio’s own novel T cell engager platform will complement the BiTE platform, Amgen said in a statement.

"Teneobio's antibody platform complements our existing capabilities and could potentially give us a more diverse set of building blocks that can be developed into new multispecific therapeutics,” said David Reese, executive vice president of research and development at Amgen.

“In addition, the availability of Teneobio's CD3 engager technology will allow us to broaden our capabilities in generating bispecifics, and with our own technology, enable customisation of the T cell engaging domain of the molecules depending on the disease and target,” he added.

Following the acquisition, Amgen will also gain Teneobio’s portfolio of antibody assets for oncology targets, which includes the phase 1 trial candidate TNB-585.

TNB-585 is a bispecific T cell-engager being evaluated for the treatment of metastatic castrate-resistant prostate cancer (mCRPC).

Amgen also adds several preclinical oncology pipeline assets with potential for near-term IND filings to its portfolio.

In June, AbbVie exercised a right to acquire TeneoOne – a Teneobio affiliate – which includes adding an anti-CD3/BCMA bispecific TNB-383B candidate for the treatment of relapsed or refractory multiple myeloma to its arsenal.

Prior to closing of the Amgen/Teneobio acquisition, three Teneobio affiliate companies will be spun-off to existing equity holders – including TeneoTwo, TeneoFour and TenoTen.

These three affiliates are developing an anti-CD19/CD3 candidate, an anti-CD38 enzyme inhibitor and an anti-HBV/CD3 antibody, respectively.

Article by
Lucy Parsons

28th July 2021

From: Research, Sales

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