image credit: Vecteezy

Gilead-partnered Teneobio and its next-gen cancer work snapped up by Amgen for $2.5B

July 28, 2021

Just two months after getting a swift approval for its closely watched KRAS lung cancer drug Lumakras, Amgen is not resting on its laurels and has penned a major new buyout deal to further boost its oncology pipeline.

The biopharma is putting $900 million down upfront, with $1.6 billion in biobucks on the table to snap up Teneobio and its suite of bispecific and multispecific antibody technologies that are focused on cancer and other disease targets.

The deal adds TNB-585, a phase 1 bispecific T cell-engager aimed at metastatic castrate-resistant prostate cancer (mCRPC), and several preclinical oncology pipeline assets “with the potential for near-term IND filings,” it said in a SEC filing.

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