United States-based AbbVie, United States-based Teneobio, and its affiliate TeneoOne have entered into a global strategic deal to develop and commercialise TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of multiple myeloma, it was reported yesterday.

According to the terms of the contract, TeneoOne will receive an upfront payment of USD90m and will continue developing TNB-383B through Phase one. AbbVie will hold the exclusive right to acquire TeneoOne and lead subsequent global development and commercialisation of TNB-383B. If AbbVie exercises its right to acquire TeneoOne, the former stockholders of TeneoOne will also be eligible for regulatory and commercial sales milestones.

TNB-383B is a bispecific antibody that simultaneously targets BCMA and CD3, utilising Teneobio's anti-CD3 platform. Through this dual targeting mechanism, TNB-383B is designed to direct the body's own immune system to target and kill BCMA expressing tumour cells. Teneobio is expected to begin the clinical program for TNB-383B in the first half of 2019.

Roland Buelow, CEO of Teneobio Inc and TeneoOne Inc said, 'We are excited to partner with AbbVie on our first clinical candidate, TNB-383B, which targets BCMA using our unique T-cell redirecting platform. Combined with AbbVie's commitment to scientific advancement and bringing oncology products to the world-wide commercial market, we will be able to quickly progress the development of TNB-383B for patients in need.'