AbbVie, Teneobio Form Antibody Pact for Multiple Myeloma
AbbVie and Teneobio, a Menlo Park, California-based biopharmaceutical company, and its affiliate TeneoOne, have entered into a global strategic transaction to develop and commercialize an immunotherapeutic for treating multiple myeloma.
TeneoBio is developing human-heavy chain antibodies as therapeutics against cancer, autoimmunity, and infectious diseases. It has several products in preclinical development for treating multiple myeloma, prostate cancer, immune disorders, and AIDS.
The deal with AbbVie involves TNB-383B, a bispecific antibody that simultaneously targets the B-cell maturation antigen (BCMA) and CD3, using Teneobio’s anti-CD3 platform. TNB-383B is designed to direct the body’s own immune system to target and kill BCMA-expressing tumor cells, according to information from the companies. Teneobio is expected to begin the clinical program for TNB-383B in the first half of 2019.
Under the terms of the agreement, TeneoOne will receive an upfront payment of $90 million and will continue developing TNB-383B through Phase I. AbbVie will hold the exclusive right to acquire TeneoOne and lead subsequent global development and commercialization of TNB-383B. If AbbVie exercises its right to acquire TeneoOne, the former stockholders of TeneoOne will also be eligible for regulatory and commercial sales milestones.
