Ex­clu­sive: Af­ter Am­gen ex­it, fa­ther-son duo gets Light­speed back­ing to fund re­main­ing Teneo­bio 'ba­bies'

The fa­ther-son duo be­hind Teneo­bio is back with an­oth­er biotech, com­pris­ing three bis­pe­cif­ic an­ti­bod­ies that nei­ther Am­gen want­ed when dish­ing out $900 mil­lion up­front last year, nor Ab­b­Vie want­ed when ac­quir­ing a mul­ti­ple myelo­ma as­set in 2019.

Tech­ni­cal­ly, An­co­ra Biotech is three shell com­pa­nies, one for each of its an­ti­bod­ies or “Teneo ba­bies,” CEO Roland Buelow told End­points News. The “un­con­ven­tion­al” route is meant to give each as­set op­tion­al­i­ty on its path to mar­ket, just like the path set by Teneo­bio, said CMO Ben Buelow, Roland’s son.

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