Amgen is acquiring Teneobio, a biotechnology company developing a new class of biological drugs called Human Heavy-Chain Antibodies. Teneobio owns proprietary bispecific and multispecific antibody technologies that will enable Amgen to significantly accelerate the development of new molecules to treat a wide range of diseases. Amgen will pay a $900 million upfront payment and up to $1.6 billion in contingent payments. The deal is scheduled to close in the second half of 2021.