Agenus Prices Offering of 13.72M Shares at $0.51

Agenus Inc. AGEN today announced the pricing of an at market underwritten offering of 13,725,491 primary shares of its common stock at a price of $0.51 per share with a group of investors including the Company's Chairman and CEO, Dr. Garo Armen. Agenus' common stock closed at $0.51 on August 10, 2011. After the estimated offering expenses payable by Agenus, Agenus expects to receive net proceeds of approximately $6.3 million. All of the shares in the offering are being sold by Agenus. The offering is expected to close on August 16, 2011, subject to customary closing conditions.