Research & Development Amgen to buy Teneobio for $2.5B to further its...

Amgen to buy Teneobio for $2.5B to further its antibody interests


Amgen isn’t leaning on its laurels even after getting a prompt approval for its carefully manufactured KRAS lung cancer drug, Lumakras, as it has signed a new buyout deal with Teneobio, to further add to its oncology pipeline just after two months of the drug approval.

The biopharmaceutical company has offered $900 million as upfront money and invested $1.6 billion in biobucks, for the acquisition of Teneobio and its suite of biospecific and multispecific technologies aiming at cancer and other diseases.

TNB-585, a phase 1 bispecific T cell-engager, targeting metastatic castrate-resistant prostate cancer (mCRPC), is included in the deal along with several preclinical oncology pipeline assets “with the potential for near-term IND filings,” Amgen said in a SEC filing.  

TNB-585 complements Amgen’s existing prostate cancer portfolio, which includes acapatamab (formerly AMG 160), a half-life extended PSMA-targeted BiTE; and AMG 509, a STEAP1 x CD3 T cell-recruiting XmAb 2+1 immune therapy. Both of them are in phase 1. 

Amgen’s M.D. and Executive Vice President R&D, David M. Reese, stated, “The acquisition of Teneobio will strengthen our ability to develop innovative medicines to treat patients with serious illnesses and to bring to market best-in-class products, particularly with respect to multispecific and bispecific medicines directed against targets in a wide range of diseases across our core therapeutic areas.”

The deal with Teneobio has come amid Amgen’s another buyout deal with Seattles’ Rodeo Therapeutics for $55 million upfront and another $666 million invested in biobucks, if at all Rodeo’s assets lived up to their hype.

Prior to that, Amgen has also spent $1.9 billion to buy out Five Prime Therapeutics and its GI cancer drug, bemarituzumab. These deals came after quite a long break taken by Amgen, the last major one being with Onyx, in 2013. 

The current deal in consideration is a bit convoluted due to the fact that Amgen’s rival company, AbbVie, had recently bought out a spin-off from the biotech, TeneoOne, which includes TNB-383B, an anti-CD3/BCMA bispecific for the treatment of relapsed or refractory multiple myeloma.

According to Amgen, before the closing of the deal, three affiliates, namely: TeneoTwo (working on an anti-CD19/CD3), TeneoFour (working on anti-CD38 enzyme inhibitor) and TeneoTen (working on anti-HBV/CD3) will be given to the Teneobio’s existing stake holders.   

Gilead’s Kite Pharma is also taking part in this, as it has licensed a suite of anitbodies targeting BCMA, from Teneobio, including one which is presently in a phase 1 study for multiple myeloma at the National Cancer Institute.

+ posts

Latest news

Revvity introduces advanced preclinical imaging tech for scientists to make breakthroughs

Revvity, Inc. is ushering in a new era of innovation in the realm of preclinical research by...

European Commission Approves Updated Pfizer-BioNTech Vaccine for Omicron XBB.1.5 Variant

The European Commission has recently achieved a significant milestone in the ongoing battle against COVID-19 in preparation...

NICE gives Chiesi’s Elfabrio go ahead

Chiesi has recently garnered a favorable recommendation from the National Institute for Health and Care Excellence (NICE)...

Must read

Surrounded by controversy, FDA approves Biogen’s Alzheimer’s drug Aduhelm

In the middle of the debate about the Alzheimer’s drug approval, the United States FDA has authorized Aduhelm

You might also likeRELATED
Recommended to you