REG - AstraZeneca PLC - AstraZeneca to acquire TeneoTwo and T cell engager

AstraZenecaAnnouncement

05/07/2022 07:00

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RNS Number : 2620R  AstraZeneca PLC  05 July 2022

5 July 2022 07:00 BST

 

AstraZeneca to acquire TeneoTwo and its clinical-stage

T-cell engager, strengthening haematological cancer pipeline

 

TNB-486 will be evaluated in multiple types of lymphoma

 

AstraZeneca today announced an agreement to acquire TeneoTwo, Inc.
(TeneoTwo)(i), including its Phase I clinical-stage CD19/CD3 T-cell engager,
TNB-486, currently under evaluation in relapsed and refractory B-cell
non-Hodgkin lymphoma(1).

 

The acquisition of TNB-486 aims to accelerate the development of this
potential new medicine for B-cell haematologic malignancies, including diffuse
large B-cell lymphoma and follicular lymphoma. Building on the success of
Calquence (acalabrutinib), TNB-486 further diversifies AstraZeneca's
haematology pipeline that spans multiple therapeutic modalities and mechanisms
to address a broad spectrum of blood cancers.

 

TNB-486 belongs to a class of therapeutic antibodies known as T-cell engagers,
which are emerging as a promising therapeutic approach in haematologic
malignancies and solid tumours. T-cell engagers are bispecific molecules that
are engineered to redirect the immune system's T-cells to recognise and kill
cancer cells. By binding to both CD19, an antigen expressed on B-cells, and to
the CD3 receptor on T-cells, TNB-486 activates and recruits T-cells to
CD19-expressing tumours where they can elicit an immune response.

Anas Younes, Senior Vice President Haematology R&D, AstraZeneca said: "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. 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."

 

Financial considerations

AstraZeneca will acquire all outstanding equity of TeneoTwo in exchange for an
upfront payment of $100m on deal closing.

 

Under the terms of the agreement, AstraZeneca will make additional contingent
R&D-related milestone payments of up to $805m and additional contingent
commercial-related milestone payments of up to $360m to TeneoTwo's equity
holders.

 

Overall, the transaction will be accounted for as an intangible asset
acquisition, recognised initially at the present value of non-contingent
consideration, with future milestones capitalised into the intangible asset as
they are recognised.

 

The transaction is expected to close in the third quarter of 2022, subject to
customary closing conditions and regulatory clearances. The transaction does
not impact AstraZeneca's financial guidance for 2022.

(i)TeneoTwo, Inc., is a majority owned subsidiary company of TBio, LLC, a
limited liability company formed in Delaware, US

 

Notes

 

AstraZeneca in oncology

AstraZeneca is leading a revolution in oncology with the ambition to provide
cures for cancer in every form, following the science to understand cancer and
all its complexities to discover, develop and deliver life-changing medicines
to patients.

 

The Company's focus is on some of the most challenging cancers. It is through
persistent innovation that AstraZeneca has built one of the most diverse
portfolios and pipelines in the industry, with the potential to catalyse
changes in the practice of medicine and transform the patient experience.

 

AstraZeneca has the vision to redefine cancer care and, one day, eliminate
cancer as a cause of death.

 

AstraZeneca in haematology

AstraZeneca is pushing the boundaries of science to redefine care in
haematology. We have expanded our commitment to patients with haematologic
conditions, not only in oncology but also in rare diseases with the
acquisition of Alexion, allowing us to reach more patients with high unmet
needs. By applying our deep understanding of blood cancers, leveraging our
strength in solid tumour oncology and delivering on Alexion's pioneering
legacy in complement science to provide transformative medicines for rare
diseases, we are pursuing the end-to-end development of novel therapies
designed to target underlying drivers of disease.

 

By targeting haematological conditions with high unmet medical needs, we aim
to deliver innovative medicines and approaches to improve patient outcomes.
Our goal is to help transform the lives of patients living with malignant,
rare and other related haematologic diseases, shaped by insights from
patients, caregivers and physicians to have the most meaningful impact.

 

AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical
company that focuses on the discovery, development, and commercialisation of
prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals,
including Cardiovascular, Renal & Metabolism, and Respiratory &
Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries
and its innovative medicines are used by millions of patients worldwide.
Please visit astrazeneca.com (http://www.astrazeneca.com/)  and follow the
Company on Twitter @AstraZeneca (https://twitter.com/AstraZeneca) .

 

Contacts

For details on how to contact the Investor Relations Team, please click here
(https://www.astrazeneca.com/investor-relations.html#Contacts) . For Media
contacts, click here (https://www.astrazeneca.com/media-centre/contacts.html)
.

 

References

1.   Clinicaltrials.gov. A Study of TNB-486 in Subjects With Relapsed or
Refractory B-Cell Non-Hodgkin     Lymphoma. Available at
https://clinicaltrials.gov/ct2/show/NCT04594642
(https://clinicaltrials.gov/ct2/show/NCT04594642) . Accessed 27 June 2022.

 

Adrian Kemp

Company Secretary

AstraZeneca PLC

 

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