Celgene Corp. (NASDAQ:CELG) will acquire EngMab AG (Pfaeffikon, Switzerland) for $600 million. In a statement, Celgene said the acquisition will help it pursue tumor necrosis factor receptor superfamily member 17 (BCMA; TNFRSF17; CD269) as a target to treat multiple myeloma.
EngMab develops T cell bispecific antibodies that bind simultaneously to a tumor antigen and the T cell receptor (TCR) complex to destroy malignant cells. Last year, it presented data showing that EM801, a T cell bispecific antibody targeting BCMA, induced death of malignant cells in vitro and in a mouse xenograft model…
Source: BioCentury