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.
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