Agenus Acquires Celexion Assets and Expands Its Antibody Discovery Platform
April 08 2015 - 7:00AM
Business Wire
- SECANT® yeast display technology to
provide speed and cost advantages
- Combination with Agenus’ mammalian
Retrocyte DisplayTM technology to result in a uniquely powerful
antibody platform
Agenus Inc. (NASDAQ: AGEN) an immunology company developing
innovative treatments for cancers and other diseases, today
announced the acquisition of key antibody assets of Celexion, LLC,
a privately held Cambridge, Mass. biotech company.
Included in the asset acquisition is the SECANT® yeast display
platform for the generation of novel monoclonal antibodies. SECANT
is designed to enable highly efficient interrogation of drug
targets such as checkpoint proteins. With this acquisition, Agenus
will now have the benefit of using its Retrocyte DisplayTM platform
for further optimization of antibodies arising from both the
mammalian Retrocyte Display platform and the SECANT yeast display
platform. The Company will utilize the combined platforms to
accelerate development of both internal and partnered programs,
including those with Merck and Incyte. The acquired assets also
include Celexion’s novel approaches to generate antibodies against
membrane bound protein targets such as GPCRs and ion channels,
which will be used to assess antibody binding and help determine
functional attributes of agonist and antagonist antibodies in a
highly efficient manner.
“We are highly focused on dissecting the interactions of cancer
and the immune system, allowing us to select key points for
therapeutic interventions,” said Robert B. Stein, MD, PhD, Chief
Scientific Officer of Agenus. “Additionally, we are committed to
establishing world-class antibody discovery and development
capabilities. Last year’s acquisition of 4-Antibody gave us the
powerful, proprietary mammalian antibody display platform Retrocyte
Display. Since then, we have advanced several development
candidates to IND-enabling studies against four antibody targets
using the Retrocyte Display platform. The SECANT yeast display
platform is highly complementary to Retrocyte Display, which will
allow us to maximize the speed and flexibility in antibody
generation and optimization. We will utilize the combined
capabilities to create best-in-class medicines to treat patients
suffering from cancer and infectious disease.”
Under the terms of the asset purchase agreement, Agenus paid
Celexion $1 million in cash and $3 million in Agenus stock at the
closing; additional consideration in stock and/or cash will be due
over the next 24 months.
About AgenusAgenus is an immunology company discovering
and developing innovative treatments for cancers and other
diseases. Our programs are supported by three separate but
synergistic technology platforms. Agenus’ checkpoint modulator
programs target GITR, OX40, CTLA-4, LAG-3, TIM-3 and PD-1. The
Company’s proprietary discovery engine Retrocyte DisplayTM is used
to generate fully human and humanized therapeutic antibody drug
candidates. The Retrocyte DisplayTM platform uses a high-throughput
approach incorporating IgG format human antibody libraries
expressed in mammalian B-lineage cells. Agenus’ heat shock
protein-based vaccines for cancer and infectious diseases have
recently completed Phase 2 studies in newly diagnosed glioblastoma
multiforme, and herpes simplex virus type 2 genital herpes. The
Company’s QS-21 Stimulon® adjuvant platform is extensively
partnered with GlaxoSmithKline and Janssen Sciences Ireland UC and
includes several candidates in Phase 2, as well as shingles and
malaria vaccines which have both successfully completed Phase 3
clinical trials. For more information, please visit
www.agenusbio.com, or connect with the company on Facebook,
LinkedIn, Twitter and Google+.
Forward-Looking StatementThis press release contains
forward-looking statements that are made pursuant to the safe
harbor provisions of the federal securities laws, including
statements regarding the expected benefit from the acquisition of
the Celexion assets, the Company’s research and development
activities, the Company’s plans to combine the newly-acquired
SECANT yeast display platform with its Retrocyte Display platform
to create best-in-class medicines, and its expected impact on the
development timeline for internal and partnered programs, and
future payments owed to Celexion. 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.
Media:BMC CommunicationsBrad Miles,
646-513-3125bmiles@bmccommunications.comorInvestors:Argot
PartnersAndrea Rabney/ Jamie Maarten,
212-600-1902andrea@argotpartners.comjamie@argotpartners.com
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