AstraZeneca: completes acquisition of TeneoTwo
(CercleFinance.com) - On Thursday AstraZeneca announced that it had completed the acquisition of TeneoTwo, a US biotech company that has developed a CAR-T cell therapy to treat certain lymphomas.
The biopharmaceutical company said it had acquired all the shares of TeneoTwo for 100 million dollars.
However, the transaction is to be accompanied by additional milestone payments of up to 805 million dollars and related payments of 360 million dollars, for a total consideration of over 1.26 billion dollars.
AstraZeneca said that TeneoTwo has already initiated a Phase I clinical trial of its CD19/CD3 agent in relapsed and refractory large B-cell non-Hodgkin's lymphoma.
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