Amgen Builds Out Antibody Interests With $2.5bn Teneobio Buy

$900m Upfront

Private California venture will bring additional expertise and novel platforms to acquisitive biotech giant as it looks to expand its interests in bispecific and multispecific antibody technologies.

newark
known for its salt flats, Newark, CA is also home to Teneobio • Source: Alamy

Amgen, Inc. is continuing down its chosen 2021 path of M&A, entering into an agreement to acquire the private US venture Teneobio, Inc. for $900m in cash upfront, plus future contingent milestone payments worth up to an additional $1.6bn in cash, in a bid to build out multiple technologies in the antibody space.

The deal will bring to the biotech giant Teneobio’s lead internal asset TNB-585, a Phase I stage bispecific anti-PSMA/CD3 T-cell-engager...

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