Industry Update: Biotechnology
VRC is proud to release its latest industry report. The report provides a concise, insightful update on the Biotechnology industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
- On June 24, 2021, AbbVie and Teneobio, Inc. announced that AbbVie exercised its exclusive right to acquire TeneoOne, an affiliate of Teneobio, Inc., and TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of relapsed or refractory multiple myeloma. The decision comes after encouraging signs from an ongoing Phase 1 study of TNB-383B
- On March 30, 2021, Amgen Inc. and Rodeo Therapeutics Corporation announced an agreement under which Amgen will acquire Rodeo, a privately held biopharmaceutical company based in Seattle that develops small-molecule therapies, for approximately $721 million. Rodeo’s 15-PGDH program is a strong strategic fit with Amgen’s inflammation portfolio and efforts to develop first-in-class therapeutics for patients.
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