Bristol Myers Inks $1.6B Licensing Agreement For Agenus' Bispecific Antibody Program In Solid Tumors

  • Bristol-Myers Squibb Co BMY and Agenus Inc AGEN have entered into a global exclusive license agreement, under which Bristol Myers will receive an exclusive license to Agenus' AGEN1777 and a second undisclosed target.
  • Bristol Myers Squibb will become solely responsible for the development and subsequent commercialization of AGEN1777 and its related products worldwide.
  • Agenus will receive a $200 million upfront payment and up to $1.36 billion in milestone payments, as well as tiered double-digit royalties on net product sales.
  • Agenus will retain options to conduct clinical studies under the development plan, to conduct combination studies with certain other Agenus pipeline assets, and co-promote AGEN1777 in the US.
  • Agenus plans to file an Investigational New Drug application for AGEN1777 with the FDA in the second quarter of 2021.
  • Bristol Myers Squibb intends to advance AGEN1777 in immuno-oncology for tumor indications, including non-small cell lung cancer.
  • AGEN1777 is a potentially first-in-class bispecific anti-TIGIT antibody engineered with an enhanced Fc region for high binding affinity and improved T and NK cell activation.
  • Price Action: AGEN shares are up 34.4% at $4.38, while BMY shares are down 0.17% at $65.35 during the premarket session on the last check Tuesday.
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Posted In: BiotechEarningsNewsPenny StocksHealth CareContractsSmall CapFDAGeneralBriefsNon-Small Cell Lung CancerSolid Tumor
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