Hitching a quick ride on the M&A train, AstraZeneca wagers $100M cash on T cell engager
AstraZeneca has engineered a $1.27 billion deal to acquire a small biotech and its T cell engager — with an eye to shaking up the standards of care in multiple B cell malignancies.
The deal to snap up TeneoTwo, which starts with $100 million upfront, marks the third buyout that Roland and Ben Buelow have scored under the Teneo umbrella after selling two other bispecific companies to AbbVie and Amgen, respectively. Just a few weeks ago, the father-and-son duo raised $60 million to keep developing the remaining programs under their watch.
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