02.11.19
AbbVie, Teneobio, Inc. and its affiliate TeneoOne, Inc. have entered a global strategic transaction to develop and commercialize TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of multiple myeloma.
TeneoOne will receive an upfront payment of $90 million and will continue developing TNB-383B through Phase 1. AbbVie will hold the exclusive right to acquire TeneoOne and lead subsequent global development and commercialization of TNB-383B.
B-cell maturation antigen (BCMA) has emerged as an attractive target for multiple myeloma therapeutics. TNB-383B is a bispecific antibody that simultaneously targets BCMA and CD3, utilizing Teneobio's unique anti-CD3 platform. Through this dual targeting mechanism, TNB-383B is designed to direct the body's own immune system to target and kill BCMA expressing tumor cells. Teneobio is expected to begin the clinical program for TNB-383B in the first half of 2019.
"We are excited to partner with AbbVie on our first clinical candidate, TNB-383B, which targets BCMA using our unique T-cell redirecting platform,” said Roland Buelow, chief executive officer, Teneobio, Inc. and TeneoOne, Inc. “Combined with AbbVie's commitment to scientific advancement and bringing oncology products to the world-wide commercial market, we will be able to quickly progress the development of TNB-383B for patients in need."
Mohit Trikha, vice president and head, oncology early development, AbbVie, said, "Developing novel targeted treatments for patients with cancer continues to be our key priority. Multiple myeloma is one of the most common hematological cancers and an area of significant medical need. Teneobio's novel approach to T-cell redirection with TNB-383B has the potential to be a treatment option that may offer new hope for myeloma patients."
TeneoOne will receive an upfront payment of $90 million and will continue developing TNB-383B through Phase 1. AbbVie will hold the exclusive right to acquire TeneoOne and lead subsequent global development and commercialization of TNB-383B.
B-cell maturation antigen (BCMA) has emerged as an attractive target for multiple myeloma therapeutics. TNB-383B is a bispecific antibody that simultaneously targets BCMA and CD3, utilizing Teneobio's unique anti-CD3 platform. Through this dual targeting mechanism, TNB-383B is designed to direct the body's own immune system to target and kill BCMA expressing tumor cells. Teneobio is expected to begin the clinical program for TNB-383B in the first half of 2019.
"We are excited to partner with AbbVie on our first clinical candidate, TNB-383B, which targets BCMA using our unique T-cell redirecting platform,” said Roland Buelow, chief executive officer, Teneobio, Inc. and TeneoOne, Inc. “Combined with AbbVie's commitment to scientific advancement and bringing oncology products to the world-wide commercial market, we will be able to quickly progress the development of TNB-383B for patients in need."
Mohit Trikha, vice president and head, oncology early development, AbbVie, said, "Developing novel targeted treatments for patients with cancer continues to be our key priority. Multiple myeloma is one of the most common hematological cancers and an area of significant medical need. Teneobio's novel approach to T-cell redirection with TNB-383B has the potential to be a treatment option that may offer new hope for myeloma patients."
