Teneobio Announces a Strategic Alliance with TESARO to Develop the Next Generation of Immuno-Oncology, Multispecific Antibodies

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| Source: TeneoBio, Inc

MENLO PARK, Calif., Jan. 08, 2018 (GLOBE NEWSWIRE) -- Teneobio, Inc., a next generation multi-specific antibody therapeutics company announced today the initiation of a research collaboration and licensing agreement with TESARO, Inc., an oncology-focused biopharmaceutical company, to develop novel multi-specific antibodies for up to six undisclosed oncology targets. Under the terms of the agreement, Teneobio will generate product candidates using its proprietary UniRat® transgenic human antibody ‘heavy-chain only’ rodent platform and its state-of-the-art sequence-based discovery engine, TeneoSeek. TESARO will have exclusive licenses to the antibodies for clinical development and commercialization on a global basis.  

Teneobio Inc. will receive an upfront of $10 million and is eligible for research fees and up to $50M in development milestones per product.  Teneobio would also receive royalties on world–wide net sales of each multi-specific product. Additional terms of the agreement were not disclosed.   

Roland Buelow, CEO of Teneobio, added, “We are excited to embark on a productive research collaboration with TESARO.  The rapid, sequence-based discovery of UniRat®-derived modular human variable heavy-chain antibody domains (UniDabs™), enables the assembly of robust, optimized multi-specific therapeutics with excellent manufacturability.  Complementing our internal pipeline, our strategic alliance with TESARO further leverages the bandwidth and efficiency of Teneobio’s state-of-the-art discovery platforms to advance specific biotherapeutics to the clinic. TESARO’s track record and focus on immuno-oncology are a great match to our interests and our goal to address unmet medical needs with novel mechanisms of action that are now afforded by breakthrough multi-specifics.”

“Single domain antibodies have emerged as a leading platform that enables targeted immune activation,” said Mary Lynne Hedley, Ph.D., President and COO of TESARO.  “This strategic research collaboration with Teneobio will allow us to develop biologic drug candidates with novel mechanisms of action.  We look forward to working with the Teneobio team, which has a strong track record of success in designing biologic drug candidates.” 

About Teneobio, Inc.

Teneobio, Inc. is a biotechnology company developing a new class of biologics, Human Heavy-Chain Antibodies (UniAbs™), for the treatments of cancer, autoimmunity, and infectious diseases. Teneobio’s discovery platform, TeneoSeek, comprises genetically engineered animals (UniRat® and OmniFlic®), next-generation sequencing, bioinformatics and high-throughput vector assembly technologies. TeneoSeek rapidly identifies large numbers of unique binding molecules specific for therapeutic targets of interest. Versatile antibody variable domains (UniDabs™) derived from UniAbs™ can be assembled into multi-specific and multivalent therapeutic proteins, surpassing limitations of conventional antibody therapeutics. Teneobio’s “plug-and-play” T-cell engaging platform includes a diverse set of anti-CD3 antibodies for therapeutics with optimal efficacy and reduced toxicity. Teneobio plans to file its first IND on its lead program, TNB-383B (anti-BCMAxCD3) for the treatment of multiple myeloma in Q4 of 2018. The company has received funding from institutional investors, including Lightspeed Venture Partners and Sutter Hill Ventures.  For more information, visit www.teneobio.com

Company Inquiries for Teneobio, Inc.
Omid Vafa, Chief Business Officer

ovafa@teneobio.com