The Anglo-Swedish pharmaceutical company AstraZeneca signed an agreement to acquire the biotech company TeneoTwo, majority-owned subsidiary of TBio, a limited liability company incorporated in Delaware. The deal is worth 1,265 billions of dollars.
The purpose of the transaction is to allow AstraZeneca to further strengthen itself in the de sectoranti-cancer treatments. The agreement includes the experimental treatment with T-cells in clinical phase, TNB-486, which strengthens the pipeline of hematological cancer.
Financially, AstraZeneca will acquire all outstanding shares of TeneoTwo in exchange for one advance payment of 100 million dollars at closing.
The Anglo-Swedish giant will make additional R&D target add-on payments of up to $805 million and commercial target add-on payments of up to $360 million to TeneoTwo shareholders.
The transaction is expected to close in third quarter of 2022, subject to customary closing conditions and regulatory approvals.
The transaction has no impact on AstraZeneca's 2022 financial guidelines, the company said in a statement.
After the announcement, on the London Stock Exchange, the AstraZeneca stock it earns 0,44% of its value.
