On February 11, AbbVie and Teneobio and their subsidiary, TeneoOne, announced a global development strategy for the bispecific antibody TNB-383B.
TNB-383B bispecific antibody targeting BCMA (B cell maturation antigen) and CD3 kills BCMA-positive tumor cells by activating the human immune system.
Teneobio plans to launch a human clinical trial of TNB-383B in the first half of 2019.
Under the agreement, AbbVie will pay an advance of $90 million to TeneoOne, and Teneobio will be responsible for the Phase I development of TNB-383B.AbbVie has the exclusive option to acquire TeneoOne and lead the subsequent global development and commercialization of TNB-383B.If AbbVie chooses to buy TeneoOne, its former shareholders will receive mileage based on registration and commercial sales.
Multiple myeloma is the most common type of hematologic cancer in the world.AbbVie had previously gained a foothold in the field of hematology and oncology with the acquisition of ibrutinib.