Venable represented and advised Teneobio, Inc. and its affiliate, TeneoOne, Inc., as it entered into a strategic transaction with AbbVie, Inc. (NYSE: ABBV) to develop and commercialize TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of multiple myeloma.
B-cell maturation antigen (BCMA) has emerged as an attractive target for multiple myeloma therapeutics. TNB-383B is a bispecific antibody that simultaneously targets BCMA and CD3, utilizing Teneobio's unique 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 tumor cells. Teneobio is expected to begin the clinical program for TNB-383B in the first half of 2019.
Under the terms of the agreement, TeneoOne will receive an upfront payment of $90 million and will continue developing TNB-383B through Phase 1. AbbVie will hold the exclusive right to acquire TeneoOne and lead subsequent global development and commercialization 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.
Ben Pelletier, of the Patent Prosecution and Counseling Practice in the San Francisco office, represented Teneobio, Inc. and its affiliate, TeneoOne, Inc.
AbbVie issued a news release on the deal.