LEXINGTON, Mass., Jan. 24, 2019 /PRNewswire/ -- Agenus Inc.
(NASDAQ: AGEN), an immuno-oncology company with a pipeline of
immune modulating antibodies, cancer vaccines, and adoptive cell
therapies1, today announced the closing of its
immuno-oncology (I-O) partnership deal with Gilead Sciences, Inc.
(NASDAQ: GILD), focused on the development and commercialization of
up to five novel immuno-oncology therapies.
Under the terms of the agreement, Agenus receives $150 million in connection with closing, which
includes a $120 million upfront cash
payment and a $30 million equity
investment. The agreement also includes approximately
$1.7 billion in potential future fees
and milestones. Gilead received worldwide exclusive rights to
AGEN1423. Gilead also received the exclusive option to license two
additional programs: AGEN1223 and AGEN23732.
Agenus has filed the IND for AGEN1223 and has a planned IND filing
for AGEN2373 in the first half of 2019. Agenus will be
responsible for developing the option programs up to the option
decision points, at which time Gilead may acquire exclusive rights
to the programs on option exercise. For one of the option
programs, Agenus will have the right to opt-in to shared
development and commercialization in the U.S. Gilead also
received right of first negotiation for two additional, undisclosed
preclinical programs.
About Agenus
Agenus is a clinical-stage
immuno-oncology company focused on the discovery and development of
therapies that engage the body's immune system to fight cancer. The
Company's vision is to expand the patient populations benefiting
from cancer immunotherapy by pursuing combination approaches that
leverage a broad repertoire of antibody therapeutics, proprietary
cancer vaccine platforms, and adoptive cell therapies (through its
AgenTus Therapeutics subsidiary). The Company is equipped with a
suite of antibody discovery platforms and a state-of-the-art GMP
manufacturing facility with the capacity to support early phase
clinical programs. Agenus is headquartered in Lexington,
MA. For more information, please
visit www.agenusbio.com and our twitter handle
@agenus_bio. Information that may be important to investors will be
routinely posted on our website and twitter.
Agenus Forward-Looking Statements
This press release
contains forward-looking statements that are made pursuant to the
safe harbor provisions of the federal securities laws, including
statements regarding the anticipated benefits of the collaboration,
as well as timing for planned IND filings. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially. These risks
and uncertainties include, among others, the factors described
under the Risk Factors section of our most recent Quarterly Report
on Form 10-Q or Annual Report on Form 10-K filed with the
Securities and Exchange Commission. Agenus cautions investors not
to place considerable reliance on the forward-looking statements
contained in this release. These statements speak only as of the
date of this press release, and Agenus undertakes no obligation to
update or revise the statements, other than to the extent required
by law. All forward-looking statements are expressly qualified in
their entirety by this cautionary statement.
Agenus Contact:
Jennifer Buell, PhD
781-674-4420
Jennifer.Buell@agenusbio.com
1 Through AgenTus Therapeutics, a subsidiary of
Agenus
2 AGEN1423, AGEN1223, and AGEN2373 are investigational
agents that have not been approved for any uses. Efficacy and
safety have not been established.
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SOURCE Agenus Inc.