Agenus, Incyte deal
Agenus granted Incyte exclusive, worldwide rights to develop and commercialize hematology and oncology immuno-therapeutics discovered under a research partnership using Agenus’ Retrocyte Display antibody discovery platform. Under the five-year deal, the companies will initially develop preclinical antibody candidates against immune checkpoint targets, including glucocorticoid-induced tumor necrosis factor receptor (TNFR)-related protein (GITR; TNFRSF18), tumor necrosis factor (TNF) receptor superfamily member 4 ( TNFRSF4; OX40; CD134), lymphocyte-activation gene 3 ( LAG3; CD223) and hepatitis A virus cellular receptor 2 ( HAVCR2; TIM3). Incyte and Agenus have the option to pursue additional targets and extend the duration of the deal. Agenus received $60 million up front, comprising $25 million in cash and $35 million through the purchase of 7.8 million Agenus shares at $4.51, which is a 10% premium to Agenus’ close of $4.11 on Jan. 8, the day before the deal was announced. ...