AstraZeneca to Buy Oncology Firm TeneoTwo for Up to $1.27 Billion

AstraZeneca to Buy Oncology Firm TeneoTwo for Up to $1.27 Billion
The logo for AstraZeneca outside its North America headquarters in Wilmington, Del., on March 22, 2021. Rachel Wisniewski/Reuters
Reuters
Updated:

AstraZeneca agreed to acquire biotechnology firm TeneoTwo Inc. in a deal worth up to $1.27 billion on Tuesday, in a move to bolster its roster of therapies to treat blood cancers.

At the heart of the deal is the U.S.-based company’s early-stage experimental treatment for a form of Non-Hodgkin’s lymphoma, a type of cancer that involves the growth of abnormal white blood cells that can lead to the emergence of tumors.