LEXINGTON, Mass., March 10, 2020 /PRNewswire/ -- Agenus Inc.
(NASDAQ: AGEN), an immuno-oncology company with an extensive
pipeline of agents designed to activate immune response to cancers,
announced the triggering of a $15.1M
milestone payment from HealthCare Royalty Partners (HCR) based on
net sales of GlaxoSmithKline's (GSK's) Shingrix vaccine exceeding
$2.0B in 2019.
Agenus' proprietary QS-21 Stimulon™ is one of the
most potent adjuvants known and is a key component in GSK's
Shingrix vaccine, which has generated blockbuster sales exceeding
$2.3Bn in its second year after
launch. Agenus is due another milestone amounting to $25.5M if Shingrix net sales exceed $2.75B over four consecutive quarters before
2026.
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, adoptive cell therapies (through its AgenTus
Therapeutics subsidiary), and proprietary cancer vaccine platforms.
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 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.
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 additional milestone payment
of $25 million based on GSK's sales
of Shingrix. 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.
Contact:
Agenus Inc.
Regina Grebla, PhD
781-674-4495
Regina.Grebla@agenusbio.com
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SOURCE Agenus Inc.