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HEALTHCARE | Drug Development
teneobio.com

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Founded Year

2009

Stage

Acquired | Acquired

Valuation

$0000 

About TeneoBio

TeneoBio is developing a class of biologics, Human Heavy Chain Antibodies (UniAbs), as therapeutics against cancer, autoimmunity, and infectious diseases.On July 27th, 2021, TeneoBio was acquired by Amgen at a valuation between $900M and $2.5B.

TeneoBio Headquarter Location

7999 Gateway Boulevard

Newark, California, 94560,

United States

650-899-8200

Latest TeneoBio News

Amgen partners with Flagship's machine learning startup, promising up to $1.9B as Big Pharma ups bet on AI

Jan 6, 2022

Max Gelman Editor Am­gen is ap­proach­ing the new year the same way it tack­led 2021: swing­ing deals. But now it’s aim­ing to bring AI ca­pa­bil­i­ties in­to the fold. The big bio­phar­ma is part­ner­ing with Flag­ship’s Gen­er­ate Bio­sciences on five ther­a­peu­tic pro­grams, the com­pa­nies an­nounced Thurs­day morn­ing, in a col­lab­o­ra­tion that seeks to pair Gen­er­ate’s ma­chine learn­ing al­go­rithms with Am­gen’s drug de­vel­op­ment ca­pa­bil­i­ties. Am­gen will pay $50 mil­lion up­front and up to $370 mil­lion in mile­stones for each pro­gram, which could to­tal $1.9 bil­lion when all is said and done. Ray De­shaies, Am­gen se­nior VP of glob­al re­search, told End­points News the fo­cus will be broad, falling un­der Am­gen’s three main re­search ar­eas: in­flam­ma­tion, on­col­o­gy and car­diometa­bol­ic. He al­so high­light­ed how Am­gen’s re­cent ac­qui­si­tion of Teneo­bio fits well with Thurs­day’s deal. “Teneo gave us the tech­no­log­i­cal plat­forms, if you will, for mak­ing bind­ing do­mains that are as small, bio­phys­i­cal­ly well be­haved and high affin­i­ty as pos­si­ble,” De­shaies said. The com­bi­na­tion “en­able us to take those raw re­sources … and rapid­ly dri­ve them to mul­ti­spe­cif­ic mol­e­cules that re­al­ly have the prop­er­ties that we see, and to get there as rapid­ly and ef­fi­cient­ly as pos­si­ble.” AI has drummed up sig­nif­i­cant hype among life sci­ences in­vestors and large drug com­pa­nies in re­cent years , with im­proved speed and ef­fi­cien­cy be­ing the key mo­ti­va­tors. De­shaies said Am­gen is rec­og­niz­ing how ma­chine learn­ing can re­duce R&D costs in tan­dem with im­proved au­toma­tion, po­ten­tial­ly lead­ing to de no­vo mol­e­cule de­vel­op­ment and do­ing away with an­i­mal mod­els al­to­geth­er. Though that goal is more long-term, the Gen­er­ate deal marks one of Am­gen’s most sig­nif­i­cant steps to­ward reach­ing it to date. The bio­phar­ma had pre­vi­ous­ly teamed up with Bench­Sci, a small F-Prime-backed soft­ware start­up sell­ing an­ti­body and reagent se­lec­tion ser­vices to Big Phar­ma clients and aca­d­e­m­ic in­sti­tu­tions, but Thurs­day’s deal marks a more sig­nif­i­cant “Gen­er­ate fits in as just part of that pipeline of build­ing the op­ti­mal mol­e­cule, and then fig­ur­ing out the op­ti­mal ways to ad­vance that mol­e­cule to test that mol­e­cule to get the most de­fin­i­tive re­sults,” De­shaies said. “You’re us­ing the best as­say sys­tem and mod­el sys­tems to eval­u­ate them. So less fail­ures, you can move faster, there’s less tri­al and er­ror.” For Gen­er­ate, the part­ner­ship comes on the heels of its mas­sive $370 mil­lion Se­ries B closed last No­vem­ber. CEO Mike Nal­ly told End­points that Gen­er­ate’s spe­cif­ic fo­cus on pro­tein de­sign led the com­pa­ny to view Am­gen as an ide­al part­ner. Nal­ly ac­knowl­edged the biotech’s sum­mar­i­ly quick rise, from de­but­ing in late 2020 to last year’s big round and now its first ma­jor part­ner­ship. But Gen­er­ate re­mains fo­cused on build­ing its own port­fo­lio as well, and as it push­es for­ward, Nal­ly said the biotech is look­ing to “strike the right bal­ance” be­tween col­lab­o­ra­tions and its own pipeline growth. “What was re­al­ly im­por­tant for us in the Am­gen deal was that it was a mul­ti-tar­get col­lab­o­ra­tion, so that we build the fa­mil­iar­i­ties of ways of work­ing with them,” Nal­ly said. “They’ve been ex­tra­or­di­nary part­ners to date, and bring a lev­el of ex­per­tise to com­ple­ment our ar­eas of ex­per­tise. But I think over time, we’ll see this con­tin­ued bal­ance be­tween our own in­ter­nal de­vel­op­ment ef­forts, as well as fu­el­ing the ef­forts of oth­ers.” There’s no time­line yet on the pro­grams in­volved in Thurs­day’s deal. But if re­cent his­to­ry is any in­di­ca­tion, Am­gen might pre­fer to move quick­ly. In ad­di­tion to the Teneo­bio buy­out last year, the bio­phar­ma stayed busy with ac­qui­si­tions of Five Prime and Rodeo as well. AUTHOR It’s big days for biology. The pandemic has seen a series of very public scientific breakthroughs: mRNA vaccine, Covid antibodies, CRISPR as therapy. The minds behind these advancements have graced magazine covers and received prestigious awards. But the last two years have also, far more quietly, seen a series of new experiments in how to fund the next generation of scientific breakthroughs. Since March 2020, investors, academics, a significant number of Silicon Valley types, at least one Russian billionaire and two crypto billionaires and, most recently, a few West Coast universities have launched a series of grant programs, institutes, NGOs and companies hoping to change how life science research is done. Though unaffiliated and varying greatly in both size and form, they have broadly promised to evade bureaucracy and misaligned incentives and advance both basic and not-so-basic research in ways they say can’t be done in either conventional academia or profit-focused biotech. Keep reading Endpoints with a free subscription Unlock this story instantly and join 127,300+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Amber Tong Senior Editor Eli Lilly is beefing up its fleet of vehicles being deployed to carry drugs to the brain. Enlisting Canada’s Entos Pharmaceuticals, Eli Lilly has grabbed rights to a suite of proteo-lipid vehicles (PLVs) as part of a research collaboration that spans multiple programs focused on diseases of the central and peripheral nervous system. Entos will receive an upfront of $50 million, part of it as an equity investment, to start developing PLVs for Lilly’s selection. Keep reading Endpoints with a free subscription Unlock this story instantly and join 127,300+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Zachary Brennan Senior Editor For anyone who’s been following how the US government has been allocating and shipping supplies of its Covid-19 treatments over the past year, the news has shifted so many times that it can be difficult to keep track of what’s still being shipped and where. More change is coming this week too, as HHS has now decided to re-start shipments of both Eli Lilly (bamlanivimab plus etesevimab) and Regeneron (casirivimab plus imdevimab) monoclonal antibody products after a short pause because neither product works against the new variant Omicron. Lilly’s combo also was halted last June due to the presence of other variants. Read More Zachary Brennan Senior Editor Kicking off 2022, hundreds of pharmaceuticals, including some blockbusters, saw their list prices rise by about 5% on average. But overall, net drug prices (cost after rebates) declined for the fourth year in a row, potentially complicating already stalled drug price reform efforts. Among the drugs seeing new increases as of Jan. 1 are Gilead’s bevy of blockbuster HIV drugs. Biktarvy, which pulled in more than $7 billion in worldwide sales in 2020, saw a 4.8% price increase in 2021, and now, another 5.6% increase in 2022 , according to a new report from the nonprofit 46brooklyn Research. Read More Nicole DeFeudis Editor Roger Perlmutter hasn’t wasted any time since announcing his supposed retirement from Merck in October 2020. After leaving his perch as one of the most successful R&D chiefs in Big Pharma, he’s now snatching a cool half-billion dollars to develop “a battery of innovative tools” for drug discovery at the young startup Eikon Therapeutics. Eikon closed on a $517.8 million Series B round on Thursday morning, bringing the Hayward, CA-based company’s total raise to more than $668 million. Keep reading Endpoints with a free subscription Unlock this story instantly and join 127,300+ biopharma pros reading Endpoints daily — and it's free. SIGN UP LOG IN

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Expert Collections containing TeneoBio

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

TeneoBio is included in 1 Expert Collection, including Cancer.

C

Cancer

3,605 items

Companies researching, developing, or offering products & services that aid in the screening, prevention, diagnosis, management, and treatment of cancer.

TeneoBio Patents

TeneoBio has filed 13 patents.

The 3 most popular patent topics include:

  • Clusters of differentiation
  • Immunology
  • Immune system
patents chart

Application Date

Grant Date

Title

Related Topics

Status

8/22/2017

Proteins, Ethology, Animal welfare, Protein structure, Animal rights

Application

Application Date

8/22/2017

Grant Date

Title

Related Topics

Proteins, Ethology, Animal welfare, Protein structure, Animal rights

Status

Application

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