Agenus Announces Dividend of 5 Million Shares of MiNK Therapeutics
March 30 2023 - 8:41AM
Business Wire
Agenus Inc. (Nasdaq: AGEN), an immuno-oncology company with a
pipeline of immunological agents targeting cancer and infectious
disease, today announced that its Board of Directors has declared a
dividend of 5 million shares of common stock of its subsidiary,
MiNK Therapeutics, Inc. (“MiNK”), to shareholders of Agenus as of
April 17, 2023 (the “Record Date”). MiNK is a clinical-stage
precision oncology company developing allogeneic, invariant natural
killer T cell therapies and operates as a separate publicly traded
company.
"We are excited to declare the distribution of MiNK equity
dividend, demonstrating our commitment to delivering additional
value for our shareholders," said Garo H. Armen, Chairman and CEO
of Agenus. With the upcoming year, MiNK aims to extend its solid
tumor program and harness its robust groundwork to expedite the
development of cell therapies that hold promise in saving lives.
This distribution exemplifies our unwavering confidence in MiNK's
approach and empowers our shareholders to participate in MiNK's
future growth through direct ownership."
On March 15, 2023, MiNK announced plans to present updated
clinical data and development plans for its allogeneic invariant
natural killer T cells (iNKTs), agenT-797, alone or in combination
with pembrolizumab or nivolumab in patients with advanced solid
tumors at the American Association for Cancer Research (AACR)
Annual Meeting, April 14-19th, 2023.
About the Dividend
The dividend of 5 million shares of MiNK common stock will be
made to all Agenus shareholders of record as of April 17, 2023, on
a pro rata basis. The Dividend Distribution will be paid no earlier
than April 27, 2023, or later than May 17, 2023.
No fractional shares will be issued. Agenus shareholders who
otherwise would be entitled to receive fractional shares of the
Dividend Distribution shall receive cash (without interest or
deduction) in lieu of such fractional shares. The amount will be
equal to the product obtained by multiplying (a) the closing price
of the MiNK Common Stock on the Nasdaq Capital Market on the Record
Date, by (b) the fraction of one share of MiNK Common Stock that
such shareholder would have otherwise been entitled to receive as a
Dividend in respect of shares of Agenus Common Stock held by such
shareholder (after aggregating all such fractional shares otherwise
issuable to such shareholder in connection with the Dividend).
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 and infections. 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 subsidiary MiNK Therapeutics), and adjuvants (through
its subsidiary SaponiQx). 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.
About MiNK Therapeutics
MiNK Therapeutics is a clinical-stage biopharmaceutical company
pioneering the discovery, development, and commercialization of
allogeneic invariant natural killer T (iNKT) cell therapies to
treat cancer and other immune-mediated diseases. MiNK is advancing
a pipeline of both native and next generation engineered iNKT
programs, with a platform designed to facilitate scalable and
reproducible manufacturing for off-the-shelf delivery. The company
is headquartered in New York, NY. For more information, visit
https://minktherapeutics.com/. Follow us on Twitter @MiNK_iNKT.
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 relating to our and MiNK’s
technologies, therapeutic candidates, and capabilities; statements
regarding future plans, including research and clinical plans; and
any other statements containing the words "may," "believes,"
"expects," "anticipates," "hopes," "intends," "plans," "will" and
similar expressions are intended to identify forward-looking
statements. 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 Form 10-K filed with the Securities and Exchange Commission
and available on our website: www.agenusbio.com. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230330005510/en/
INVESTORS Zack Armen, Head of
Investor Relations 917-362-1370 zack.armen@agenusbio.com
MEDIA Susan Goldstein 646-217-8823
susan.goldstein@agenusbio.com
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