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