AstraZeneca has said today (August 11) that it has completed its purchase of TeneoTwo including its B-cell non-Hodgkin lymphoma drug candidate.
The company made an upfront payment of $100 million and then additional payments of up to $805 million contingent on research and development milestones as well as up to $360 million to TeneoTwo’s former equity holders on commercial-related milestones.
One of AstraZeneca’s goals is to redefine care in hematology and it will develop TNB-486, its phase 1 clinical-stage CD19/CD3 T-cell engager, which is currently under evaluation as a potential new medicine for B-cell hematologic malignancies.
The acquisition did not include the transfer of people or facilities.
iTeneoTwo, Inc., is a majority owned subsidiary company of TBio, LLC, a limited liability company formed in Delaware, U.S.
Commitment to patients
AstraZeneca says it has expanded its commitment to patients with hematologic conditions, not only in oncology but also in rare diseases with the acquisition of Alexion, it says allows them to reach more patients with high unmet needs.
AstraZeneca announced on July 5 that it had agreed to buy TeneoTwo.
The company said by targeting hematological conditions with high unmet medical needs, it aims to deliver medicines and approaches to improve patient outcomes. It says the goal is to help transform the lives of patients living with malignant, rare and other related hematologic diseases, shaped by insights from patients, caregivers and physicians to have the most meaningful impact.