- AstraZeneca (NASDAQ:AZN) is acquiring U.S.-based blood cancer drug maker TeneoTwo for $100M upfront plus milestone payments.
- The British pharma giant will acquire all outstanding equity of TeneoTwo, a majority owned unit of Delaware-based TBio, for an upfront $100M on deal closing and will make contingent R&D-related milestone payments of up to $805M and commercial milestones of up to $360M to TeneoTwo's equity holders.
- AstraZeneca said that through the acquisition it will gain TeneoTwo phase 1 drug candidate, TNB-486 which is currently being evaluated in relapsed and refractory B-cell non-Hodgkin lymphoma.
- The company said TNB-486 — which belongs to a class of antibodies called T-cell engagers — would further diversify its hematology pipeline.
- AstraZeneca added that the transaction will be accounted for as an intangible asset acquisition and it does not impact the company's 2022 guidance.
- The deal is expected to close in Q3, subject to conditions and regulatory clearances.
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