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Biologics

Amgen to buy TeneoBio for up to $2.5 billion

by Megha Satyanarayana
July 31, 2021 | A version of this story appeared in Volume 99, Issue 28
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Amgen has agreed to buy the antibody maker Teneobio for $900 million upfront and up to $1.6 billion in milestone payments. Teneobio makes bispecific and multispecific antibodies, including a new class called human heavy-chain antibodies that bind to multiple targets on different cell types. Teneobio’s technology will add to Amgen’s BiTE technology for producing T-cell-engaging antibodies. The sale includes Teneobio’s TNB-585, a bispecific antibody in clinical trials for certain treatment-resistant prostate cancers.

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