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.