LEXINGTON, Mass.,
Feb. 19, 2019
/PRNewswire/ -- Agenus Inc. (NASDAQ: AGEN), an
immuno-oncology (I-O) company with a pipeline of immune modulating
antibodies, cancer vaccines, adjuvants and adoptive cell
therapies1, announced today the launch of its Biotech Electronic
Security Token (BEST), the first digital-security offering in
healthcare.
Agenus will host a conference call and live audio webcast
today at 11:00 a.m. ET to discuss the
launch of BEST and provide a full briefing on the digital security
and offering process.
Agenus previously announced that BEST is designed to be an
innovative and transformative way to finance drug development by
increasing liquidity, minimizing dilution, and improving capital
allocation. BEST is envisioned as a way to democratize
financing through targeted investments for specific therapeutic
drug products. Tokenization will enable accredited investors the
opportunity to invest directly in a single asset, Agenus' anti-PD-1
antibody (AGEN2034), while preserving shareholder
equity.
In this first phase of Agenus' security token offering,
accredited investors will be eligible to subscribe for BESTs at a
40% discount to the $1.67 issue price
until the closing date of March 12,
2019. Agenus reserves the right to limit the number of
tokens that will be issued at this price. Oversubscribed amounts in
this phase will be given priority in any subsequent stage of the
offering.
BESTs are being offered by Agenus pursuant to a Private
Placement Memorandum that can be found at
https://helium.atomiccapital.io/agenus. Before you
invest, you should read the Private Placement Offering Memorandum
for more complete information about this offering. This release
shall not constitute an offer to sell or the solicitation of an
offer to buy BESTs, nor will there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful.
Conference Call & Webcast
Information
- Presentation Date and Time: February 19, at 11:00am
(EST)
- A live webcast & presentation will be accessible
at: https://www.webcaster4.com/Webcast/Page/1556/29470
- Domestic Dial-in Number: 1-844-492-3727
- International Dial-in Number: 1-412-317-5118
- Conference ID: Agenus
- Webcast will be also accessible from the
"Events & Presentations" section of
the Company's investor website at
www.agenusbio.com. A replay will be available
following the presentation.
Atomic Telegram Channel Discussion
Immediately following the Agenus teleconference, please
join Garo Armen, CEO of Agenus Inc,
and Alexander S. Blum, CEO of Atomic
Capital, to hear more about the first offering of a digital
security in healthcare, why Agenus is taking this innovative
approach, and how to participate.
- Event Date and Time: February
19, at 12:00PM
(EST)
Access to the live online discussion will be available on
the Atomic Capital Telegram Channel, located at
https://t.me/joinchat/HTsC_xBqNhCHvPMZmuK0Mg.
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.
About BEST
Biotech Electronic Security Tokens (BESTs) are
blockchain-based securities that will be issued in accordance with
Regulation D of the Securities Act of 1933, which will entitle the
holders to a portion of U.S. net sales of AGEN2034 until a defined
multiple of the original purchase price is earned.
BEST holders will benefit from downside protection in the
form of a conversion provision that may be exercised in the event
that AGEN2034 does not receive FDA approval by a certain
date.
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
terms, timing and impact of Agenus' BEST offering, the ability for
any accredited investor to purchase BESTs, and the potential
approval and commercialization of AGEN2034. 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, as well as the Risk Factors included in the Private
Placement Offering Memorandum dated as of February 19, 2019 pursuant to which BESTs will be
issued. 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.
Contact:
Agenus Inc.
Jennifer Buell, PhD
781-674-4420
Jennifer.Buell@agenusbio.com
1Through AgenTus Therapeutics, a
subsidiary of Agenus
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SOURCE Agenus