Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →A Multicenter Open-Label Phase 1 Study of TNB-383B, a Bispecific Antibody, in Subjects With Relapsed or Refractory Multiple Myeloma. Sponsor: AbbVie. Phase…
Amgen Inc. said on Tuesday it would buy Teneobio Inc. for up to $2.5 billion, including $900 million upfront and $1.6 billion in milestones, to strengthen its…
Phase 1 study of AMG 340 (formerly TNB-585), a PSMAxCD3 T-cell engager, in mCRPC. Overall status: TERMINATED. Why stopped: 'Sponsor strategic decision.' Study…
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Amgen acquired Newark-based Teneobio for $900M upfront in cash plus up to $1.6B in contingent milestone payments (total deal value up to ~$2.5B); the acquisition closed October 19, 2021. The deal added Teneobio's human heavy-chain-only antibody platform and bispecific T-cell engager technology to Amgen's bispecific franchise. The lead asset was TNB-585, a CD3xPSMA bispecific T-cell engager (renamed AMG 340 post-close) with a low-affinity CD3 arm engineered to mitigate cytokine release syndrome, in Phase 1 trials for metastatic castration-resistant prostate cancer (mCRPC). POST-CLOSE OUTCOME: AMG 340 was discontinued — its Phase 1 mCRPC study (NCT04740034) was terminated for a 'sponsor strategic decision,' with study completion June 2024 and the trial marked terminated on ClinicalTrials.gov (last updated June 2025). ASCO 2024 data showed limited single-agent efficacy (4/41 PSA50 responses, not dose-dependent; no RECIST responses). The discontinuation of the deal's lead clinical asset means the acquisition's near-term value rests on Teneobio's platform and preclinical pipeline rather than TNB-585/AMG 340.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Amgen Inc. / Teneobio, Inc. (this deal) | 2021 | $2.5B | — |
| Amgen Inc. / Immunex Corporation | 2002 | $16.0B | 92 |
| Amgen Inc. / Immunex Corporation | 2001 | $16.0B | 91 |
| Amgen Inc. / Micromet Inc. | 2012 | $1.2B | 88 |
| Amgen Inc. / Five Prime Therapeutics | 2021 | $1.9B | 78 |
| Amgen Inc. / Horizon Therapeutics plc | 2022 | $27.8B | 72 |
| Amgen Inc. / Otezla (from Celgene/BMS) | 2019 | $13.4B | 68 |
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