Tesaro, a San Antonio, Texas-headquartered oncology-focused biopharmaceutical company, has signed a research and license agreement with Teneobio, a Menlo Park, California-headquartered biotechnology company developing multi-specific antibody therapeutics.

The companies have agreed to develop multi-specific antibodies for up to six undisclosed oncology targets. Under the agreement, Teneobio will generate product candidates using its proprietary UniRat transgenic human antibody ‘heavy-chain only’ rodent platform and its sequence-based discovery engine, TeneoSeek. Tesaro will have exclusive licenses to the antibodies for clinical development and commercialization on a global basis.

Teneobio will receive an upfront of $10 million and is eligible for research fees and up to $50 million in development milestones per product. Teneobio would also receive royalties on worldwide net sales of each multi-specific product. Additional terms of the agreement were not disclosed.

Source: Teneobio