AstraZeneca To Acquire TeneoTwo And Its T-cell Engager

AstraZeneca (AZN.L,AZN) announced an agreement to acquire TeneoTwo, Inc., including its phase I clinical-stage TNB-486, currently under evaluation in relapsed and refractory B-cell non-Hodgkin lymphoma. TNB-486 belongs to a class of therapeutic antibodies known as T-cell engagers, which are emerging as a therapeutic approach in haematologic malignancies and solid tumours.

The company will acquire all outstanding equity of TeneoTwo in exchange for an upfront payment of $100 million on deal closing. AstraZeneca will make additional contingent R&D-related milestone payments of up to $805 million and additional contingent commercial-related milestone payments of up to $360 million to TeneoTwo's equity holders. The acquisition does not impact AstraZeneca's financial guidance for 2022.

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