Drug manufacturing giant AstraZeneca PLC (NASDAQ: AZN) has agreed to purchase the outstanding shares of TeneoTwo, Inc. for approximately $100 million. TeneoTwo, a subsidiary of TBio, LLC, is known for TNB-486. The American Depository Receipts (ADRs) of this $203-billion company slipped approximately 1% in the pre-market trading session on Tuesday. Inside the Headlines It is worth noting that TNB-486 is a T-cell engager (in the clinical stage), which can be used for killing cancer cells by directing T-cells in the immune system. TNB-486 is being evaluated for the treatment of lymphoma. The addition of TNB-486 will boost AstraZeneca’s efforts to build more drugs to address blood cancer.
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