Pharmaceutical company AstraZeneca has offered up to $1.265 billion to acquire TeneoTwo and the biotech company's lymphoma research currently in a phase 1 trial.
In a July 5 press release, AstraZeneca said TeneoTwo's "promising" T-cell engager is designed to redirect the immune system to "recognize and kill cancer cells."
"We believe this innovative molecule, which was designed to optimize the therapeutic window of T-cell activation, will enable us to explore novel combinations that have the potential to become new standards of care in this setting," AstraZeneca's senior vice president of hematology research and development, Anas Younes, MD, said in a statement.
The transaction is set to finalize at the end of the third quarter of 2022.