AstraZeneca PLC (LSE:AZN) has struck a deal to swallow up a US-based owner of potential new drug cancer medicines for an initial U$S100mln (£82.6mln) and up to US$1.06bn in milestone payments.
The FTSE 100 company said it has agreed to buy TeneoTwo Inc and its main drug assets, which include TNB-486, a type of an emerging class of therapeutic antibodies known as T-cell engagers.
T-cell engagers are molecules that are engineered to redirect the immune system's T-cells to recognise and kill cancer cells.
With the acquisition, AstraZeneca aims to accelerate the development of TNB-486, which is currently being tested as a new medicine to treat B-cell haematologic malignancies, including diffuse large B-cell lymphoma and follicular lymphoma.
These would add to the Anglo-Swedish giant’s Calquence haematology drug and a pipeline of haematology medicines using different methods and mechanisms to treat a broad spectrum of blood cancers.
“By redirecting the body's natural immune response to target B-cell malignancies, TNB-486 alone or in combination with CD20-targeted therapy could potentially deepen clinical responses and improve patient outcomes,” said Anas Younes, AZ’s senior vice president haematology research & development.
“We believe this innovative molecule, which was designed to optimise the therapeutic window of T-cell activation, will enable us to explore novel combinations that have the potential to become new standards of care in this setting."
The deal is expected to close before the end of September.