Agenus: FDA Accepts AGEN2373 IND, Triggering $7.5 Million Milestone
August 08 2019 - 09:23AM
Dow Jones News
By Colin Kellaher
Agenus Inc. (AGEN) on Thursday said the U.S. Food and Drug
Administration accepted the company's investigational new drug
application for AGEN2373, triggering a $7.5 million milestone
payment from Gilead Sciences Inc. (GILD).
The Lexington, Mass., clinical-stage immuno-oncology company in
December formed a partnership with Gilead to develop and
commercialize up to five novel immuno-oncology therapies.
Under the deal, Agenus received $150 million upfront from Gilead
and is eligible for roughly $1.7 billion in future fees and
milestones.
"AGEN2373 has unique binding properties and is designed to
mitigate the toxicity observed with competitor molecules," Agenus
said. "We believe that this molecule has great potential for
patients with cancer."
Shares of Agenus rose 3.2% in premarket trading Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 08, 2019 09:08 ET (13:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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