AbbVie to acquire TeneoOne

2019 12 09 20 32 9244 Multiple Myeloma 400

AbbVie announced it will buy TeneoOne, an affiliate of TeneoBio, after the company's candidate treatment for relapsed or refractory multiple myeloma showed promising results in an ongoing phase I study.

The experimental treatment, named TNB-383B, is a bispecific antibody that simultaneously targets BCMA and CD3. It is designed to direct the body's own immune system to target and kill BCMA-expressing tumor cells.

Results from the ongoing phase I study demonstrated an objective response rate of 79%, a partial response rate of 63%, and a complete response rate of 29% at doses ≥40 mg in the dose escalation cohorts with a median follow-up time of 6.1 months, according to data released by the companies.

AbbVie and TeneoOne entered a strategic agreement in February 2019 to develop and commercialize TNB-383B. The acquisition is subject to customary closing conditions, including clearance by the U.S. antitrust authorities under the Hart-Scott-Rodino Act. Financial details were not disclosed.

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