Deal consideration includes an upfront payment of $100 million. AstraZeneca will make additional contingent R&D-related milestone payments of up to $805 million and additional contingent commercial-related milestone payments of up to $360 million to TeneoTwo’s equity holders.

The acquisition of TNB-486 aims to accelerate the development of this potential new medicine for B-cell hematologic malignancies, including diffuse large B-cell lymphoma and follicular lymphoma. 

TNB-486 belongs to a class of therapeutic antibodies known as T-cell engagers. The bispecific molecules are engineered to redirect the immune system’s T-cells to recognize 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 tumors where they can elicit an immune response.

Anas Younes, Senior Vice President of Hematology 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.”

The transaction is expected to close in the third quarter of 2022.

Price Action: AZN shares are down 1.08% at $65.24 during the premarket session on the last check Tuesday.