HealthCare Royalty in vaccine royalty deal with Agenus

Agenus Inc. (NASDAQ:AGEN) will sell to HealthCare Royalty Partners (Stamford, Conn.) royalty rights on sales of vaccines from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) containing Agenus' QS-21 Stimulon adjuvant. The biotech will receive $190 million in cash, plus up to $40 million in milestones.

The infectious disease and cancer company said it will use the proceeds to redeem a royalty bond from Oberland Capital Management LLC (New York, N.Y.) (see BioCentury, Oct. 19, 2015)...