Wednesday, July 28, 2021

Amgen Acquires Teneobio For $900M

Thousand Oaks-based Amgen said on Tuesday that it will pay $900M for Teneobio, a biopharmaceuticals company which is developing treatments for patients with cancer. According to Amgen, the all cash $900M deal also includes future contingent milestone payments worth up to an additional $1.6 billion in cash. Teneobio has a variety of early-stage oncology assets, including a Phase I bispecific antibody for patients with advanced prostate cancer, according to Amgen.