Am­gen bel­lies back up to the M&A ta­ble for an­oth­er biotech buy­out, this time with a $2.5B deal for an an­ti­body play­er fo­cused on PS­MA

Five months af­ter Am­gen CEO Bob Brad­way stepped up to the M&A ta­ble and ac­quired Five Prime for $1.9 bil­lion, fol­low­ing up with the small­er Rodeo ac­qui­si­tion, he’s gone back in for an­oth­er biotech buy­out.

This time around, Am­gen is pay­ing $900 mil­lion cash while com­mit­ting up to $1.6 bil­lion in mile­stones to bag the pri­vate­ly held Teneo­bio, an an­ti­body drug de­vel­op­er that has ex­per­tise in de­vel­op­ing new bis­pecifics and mul­ti­specifics. In ad­di­tion, Am­gen cit­ed Teneo­bio’s “T-cell en­gager plat­form, which ex­pands on Am­gen’s ex­ist­ing lead­er­ship po­si­tion in bis­pe­cif­ic T-cell en­gagers by pro­vid­ing a dif­fer­en­ti­at­ed, but com­ple­men­tary, ap­proach to Am­gen’s cur­rent BiTE plat­form.”

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