Overview

In 2018, Agenus and Gilead entered into a partnership to develop novel immuno-oncology therapies. Gilead currently has an exclusive option to license AGEN2373, a conditionally active CD137 agonist. AGEN2373 is being evaluated in a Phase 1b combination study with botensilimab (Fc-enhanced anti-CTLA-4), in melanoma patients who had relapsed on, or were refractory to, prior anti-PD-1 therapy. Agenus has received $177.5M in upfront and achieved milestone payments, and is eligible for up to $570M in potential option fees and future milestone payments, as well as royalties on worldwide product sales up to the mid-teens. Agenus retains the right to opt-in to share Gilead’s development and commercialization costs in the United States in exchange for a 50:50 profit share and US co-commercialization rights.

In 2015, Agenus and Incyte entered into a global alliance to develop checkpoint modulating antibodies for cancer treatment.  The collaboration has generated three clinical-stage programs directed against GITR, LAG-3 and TIM-3.  Agenus is eligible for up to $450M in potential development, regulatory and commercial milestone payments as well as royalties on worldwide product sales up to the low-double digits.

In 2021, Agenus and Bristol Myers Squibb entered into a global license agreement for Agenus’ anti-TIGIT bi-specific antibody, BMS-986442 (AGEN1777). BMS-986442 is being evaluated in a Phase I study, and Bristol Myers Squibb intends to advance the research and development of BMS-986442 in high priority tumor indications including non-small cell lung cancer. Agenus has received $220M in upfront and achieved milestone payments, and is eligible for up to $1.34B in potential future milestone payments, as well as royalties on worldwide product sales up to the mid-teens. Agenus retains options to conduct clinical studies under the development plan, to conduct combination studies with certain other Agenus pipeline assets, and to co-promote BMS-986442 in the US upon commercialization.

In 2020, Agenus and Betta Pharmaceuticals entered into a license agreement for balstilimab (anti-PD-1 antibody) and zalifrelimab (anti-CTLA-4 antibody) in Greater China.  Agenus is eligible for up to $100M in potential milestone payments, as well as royalties on product sales up to the low-twenties.

In 2019, Agenus and UroGen entered into a license agreement for the use of Agenus’ anti-CTLA-4 antibody, zalifrelumab, with UroGen’s sustained release technology for intravesical delivery in patients with urinary tract cancers.   Agenus is eligible for up to $200M in potential milestone payments, as well as royalties on product sales up to the low-twenties.

Agenus licensed QS-21 Stimulon to GSK for use in its vaccines, including Shingrix and Mosquirix.  The FDA granted approval to GSK’s Shingrix in 2017, and Shingrix generated over $2 billion in net sales for GSK in 2021.  In 2018, Agenus and HealthCare Royalty Partners announced a $230 million non-dilutive royalty transaction on sales of GSK’s QS-21 containing vaccines.  Agenus is eligible for up to $25M in potential milestone payments.

In 2014, Agenus and Merck entered into a collaboration and license agreement to develop checkpoint modulating antibodies for cancer treatment.  The collaboration has resulted in the generation of MK-4830, an anti-ILT4 antibody that Merck is developing in multiple oncology indications.  Agenus is eligible for up to $85M in potential development, regulatory and commercial milestone payments as well as royalties on worldwide product sales.