Amgen has invested $900m upfront and $1.6bn in biobucks in the buyout of Teneobio, on a mission to expand its oncology sources. Teneobio and its bispecific and multispecific antibody technologies concentrate on cancer and other disease targets.
The contract adds TNB-585 (a phase 1 bispecific T cell-engager focused on metastatic castrate-resistant prostate cancer), and numerous preclinical oncology resources. Amgen’s current prostate cancer portfolio already comprises of acapatamab, PSMA-targeted BiTE; and AMG 509 among many more; therefore the TNB-585 addition works well.
“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“
The buyout of Seattle’s Rodeo Therapeutics which took place during March increased Amgen’s arrows in the anti-inflammatory sector. The take-over consisted of $55m upfront, then $666 million in biobucks, providing Rodeo Therapeutics didn’t overestimate their asset value.
The fact that Amgen’s rival AbbVie previously purchased TeneoOne, which includes TNB-383B, (an anti-CD3/BCMA bispecific for the treatment of relapsed or refractory multiple myeloma) makes the transaction somewhat complex. Before it closes the deal, Amgen said that Teneobio associates will be distributed to Teneobio’s current equity holders.
David Reese, M.D., executive vice president of research and development at Amgen commented that “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. 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. 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 customization of the T cell engaging domain of the molecules depending on the disease and target.”
Roland Buelow, CEO of Teneobio, said “The Teneobio team is enthusiastic about joining forces with Amgen, a pioneer of biotherapeutics. Amgen's R&D resources and its extensive clinical experience in immuno-oncology are ideally suited to applying and advancing Teneobio's differentiated technologies and multispecific antibodies to deliver transformative medicines. Over the last five years, Teneobio developed leading-edge expertise in efficiently engineering differentiated multispecific and bispecific therapeutics for numerous indications with potentially better safety, efficacy and pharmacokinetic profiles than the first generation of T-cell engagers. Together, we share a focused commitment to rapidly discover, develop and deliver novel and meaningful disease-modifying multispecific antibodies to patients in need.”See all the latest jobs in Healthcare Communications