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7/5, 8:40 AM (Source: TeleTrader)
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AstraZeneca to acquire TeneoTwo for $1.27 billion

AstraZeneca announced on Tuesday that it completed a deal to acquire TeneoTwo for up to $1.27 billion, the company said in a statement published on its website.

According to the communique, the deal is set to include the "Phase I clinical-stage CD19/CD3 T-cell engager, TNB-486, currently under evaluation in relapsed and refractory B-cell non-Hodgkin lymphoma."

The deal is expected to close in the third quarter of 2022, pending customary closing conditions and regulatory approvals. Besides, the firm says the transaction does not affect AstraZeneca's financial guidance for 2022.

Baha Breaking News (BBN) / JG