Amgen To Acquire Privately Held Teneobio For $900 Million In Cash With Future Contingent Milestone Payments

THOUSAND OAKS, Calif. and NEWARK, Calif.July 27, 2021 /PRNewswire/ — Amgen (NASDAQ: AMGN) and Teneobio today announced an agreement under which Amgen will acquire Teneobio, a privately held, clinical stage biotechnology company developing a new class of biologics called Human Heavy-Chain Antibodies.  Under the terms of the agreement, Amgen will acquire all outstanding shares of Teneobio at closing in exchange for a $900 million upfront cash payment, as well as future contingent milestone payments to Teneobio equity holders potentially worth up to an additional $1.6 billion in cash.

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Teneobio Announces Achievement of Milestone Payment as Janssen Advances Phase I Study of Bispecific JNJ-75348780 for the Treatment of NHL and CLL

NEWARK, Calif., April 05, 2021 (GLOBE NEWSWIRE) — Teneobio, Inc., a clinical stage biotech company focused on the discovery and development of novel multi-specific biotherapeutic antibodies, reported the Phase I clinical entry and the dosing of patients with the bispecific JNJ-75348780 in a Phase I study (https://clinicaltrials.gov/ct2/show/NCT04540796), which is sponsored by Janssen Research & Development, LLC (Janssen). The Phase I dose escalation study will evaluate patients with B-cell lymphoid malignancies, including non-Hodgkin’s lymphoma (NHL) and chronic lymphocytic leukemia (CLL). Participants will receive JNJ-75348780 by intravenous (IV) or subcutaneous (SC) administration.

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