Announced
Financials
Sources
Tags
Pending
Biotechnology
Acquisition
Domestic
Friendly
Single Bidder
Private
United States
biotechnology company
Majority
Private Equity
Synopsis
Amgen, an independent biotechnology medicines company, agreed to acquire Teneobio, an operator of a biotechnology company intended to develop biologics, human heavy-chain antibodies for the treatments of cancer, autoimmunity, and infectious diseases, from private equity firms Shutter Hill Ventures and Lightspeed Venture Partners, for $900m. "The acquisition of Teneobio will strengthen our ability to develop innovative medicines to treat patients with serious illnesses and to bring to market best-in-class products, particularly with respect to multispecific and bispecific medicines directed against targets in a wide range of diseases across our core therapeutic areas," David M. Reese, Amgen Executive Vice President of Research and Development.
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