Agenus to Receive $25 Million Milestone Payment from Bristol Myers Squibb for TIGIT-CD96 Bispecific Program
11 Dezembro 2023 - 9:30AM
Business Wire
Agenus Inc. (“Agenus”) (Nasdaq: AGEN), a leader in developing
novel immunological agents to treat various cancers, today
announced it has triggered the second development milestone payment
under its global licensing agreement with Bristol Myers Squibb for
BMS-986442, an Fc-enhanced bispecific TIGIT antibody. Agenus will
receive a $25 million cash payment from Bristol Myers Squibb with
the dosing of the first patient in the phase 2 dose expansion
portion of the ongoing CA115-001 clinical trial of BMS-986442.
BMS-986442 (also known as AGEN1777) is a dual TIGIT and CD96
antagonist with an enhanced Fc region to improve tumor-reactive T
cell responses. Bristol Myers Squibb licensed BMS-986442 from
Agenus in 2021. The phase 1 dose escalation study in solid tumors
is complete and the phase 2 portion of the dose expansion
combination study evaluating the combination of BMS-986442 with
nivolumab +/- chemotherapy is ongoing.
“The start of the phase 2 portion of the dose expansion study
marks an exciting milestone for this differentiated anti-TIGIT
program and an important step in potentially delivering a
meaningful new option for cancer patients,” said Chief Executive
Officer, Garo Armen, Ph.D. “Similar to our lead program
botensilimab, we engineered this bispecific TIGIT antibody with an
Fc-enhanced design, which we believe to be a pivotal feature for
boosting clinical activity. We look forward to the future
development of this program together with our partner Bristol Myers
Squibb, as we remain committed to delivering innovation in cancer
research.”
The agreement also includes up to $1.32 billion in additional
development, regulatory and commercial milestones plus tiered
double-digit to mid-teens royalties. Bristol Myers Squibb is solely
responsible for the development and any subsequent
commercialization of BMS-986442 and its related products worldwide.
Agenus retains options to conduct clinical studies under the
development plan, to conduct combination studies with certain other
Agenus pipeline assets, to co-fund global development for increased
U.S. royalties, and to co-promote BMS-986442 in the U.S. upon
commercialization.
About Agenus
Agenus is a leading immuno-oncology company targeting cancer and
infectious diseases with a comprehensive pipeline of immunological
agents. The company’s mission is to expand patient populations
benefiting from cancer immunotherapy through combination
approaches, using a broad repertoire of antibody therapeutics,
adoptive cell therapies (through MiNK Therapeutics) and vaccine
adjuvants (through SaponiQx). Agenus is headquartered in Lexington,
MA. For more information, visit www.agenusbio.com or @agenus_bio.
Information that may be important to investors will be routinely
posted on our website and social media channels.
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 a its partnered
BMS-986442 program, expected timelines, and any other statements
containing the words "may," "believes," "expects," "anticipates,"
"hopes," "intends," "plans," "forecasts," "estimates," "will,"
“establish,” “potential,” “superiority,” “best in class,” 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 Annual Report on Form 10-K for 2022, and subsequent
Quarterly Reports on Form 10-Q 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.
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