AstraZeneca concludes acquisition of TeneoTwo
AstraZeneca has acquired all outstanding equity of TeneoTwo in exchange for an upfront payment of $100m.
New Delhi: AstraZeneca has recently announced that the company has completed the acquisition of TeneoTwo, Inc. including its Phase I clinical-stage CD19/CD3 T-cell engager, TNB-486, currently under evaluation in relapsed and refractory B-cell non-Hodgkin lymphoma. AstraZeneca will develop TNB-486 as a potential new medicine for B-cell haematologic malignancies.
AstraZeneca has acquired all outstanding equity of TeneoTwo in exchange for an upfront payment of $100m. Under the terms of the agreement, AstraZeneca will make additional contingent R&D-related milestone payments of up to $805m and additional contingent commercial-related milestone payments of up to $360m to TeneoTwo's former equity holders.
This acquisition did not include the transfer of people or facilities.
TeneoTwo, Inc., is a majority owned subsidiary company of TBio, LLC, a limited liability company formed in Delaware, US
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AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.
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