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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