AstraZeneca to buy biotech firm TeneoTwo for up to $1.27 bn

Drugmaker AstraZeneca has signed an agreement to acquire biotechnology firm TeneoTwo for up to $1.27 billion. AstraZeneca plans to acquire all outstanding equity of TeneoTwo for an upfront payment of $100 million, with additional milestone-related payments of up to $1.17 billion. The transaction may close in the third quarter of this year.