AstraZeneca to acquire US biotech firm TeneoTwo for up to $1.27bn
UK-based pharma giant AstraZeneca has signed a deal worth up to $1.27 billion to acquire American biotech company TeneoTwo in a move to bolster its haematological cancer pipeline.
The acquisition includes TNB-486, a CD19/CD3 T-cell engager in phase 1 clinical-stage development. Presently, TNB-486 is being assessed in relapsed and refractory B-cell non-Hodgkin lymphoma.
According to AstraZeneca, the acquisition of the CD19/CD3 T-cell engager aims to expedite the development of the drug candidate for B-cell haematologic malignancies, including follicular lymphoma and diffuse large B-cell lymphoma.
TNB-486 will further diversify the haematology pipeline of AstraZeneca that spans various therapeutic modalities and mechanisms to address a wide range of blood cancers.
Anas Younes — AstraZeneca Senior Vice President Haematology R&D, commenting on AstraZeneca acquisition of TeneoTwo, said: “By redirecting the body’s natural immune response to target B-cell malignancies, TNB-486 alone or in combination with CD20-targeted therapy could potentially deepen clinical responses and improve patient outcomes.
“We believe this innovative molecule, which was designed to optimise the therapeutic window of T-cell activation, will enable us to explore novel combinations that have the potential to become new standards of care in this setting.”
As per the terms of the deal, AstraZeneca will make an upfront payment of $100 million to TeneoTwo on the closing of the deal. The pharma major will make further contingent research and development (R&D) related milestone payments of up to $805 million and up to $360 million in the form of additional contingent commercial-related milestone payments to TeneoTwo’s stakeholders.
The deal, which is subject to customary closing conditions and regulatory approvals, is likely to close in Q3 2022.