Amgen to Acquire Teneobio for ~$2.5B

 Amgen to Acquire Teneobio for ~$2.5B

Shots:

  • Amgen to acquire all outstanding shares of Teneobio for $900M as up front and $1.6B in cash as contingent milestones to Teneobio equity holders. The transaction is expected to be closed in H2’21
  • The acquisition will boost Amgen’s abilities to develop innovative therapies and expand its portfolio with the addition of early-stage oncology assets including TNB-585 which is a P-I bispecific T cell-engager for mCRPC
  • In Jun’2021, AbbVie exercised its right to acquire TeneoOne which includes TNB-383B. Prior to the closure of acquisition, three Teneobio affiliates will be spun-off to Teneobio’s existing equity holders, TeneoTwo, TeneoFour and TeneoTen

Click here to­ read full press release/ article | Ref: Amgen | Image: Wall Street Journal

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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