Gilead expands immuno-oncology pipeline with license from Agenus

Gilead Sciences Inc. (NASDAQ:GILD) received rights to a bispecific immuno-oncology molecule and options for two additional immuno-oncology candidates from Agenus Inc. (NASDAQ:AGEN).

Gilead received exclusive, worldwide rights to AGEN1423, options to bispecific antibody AGEN1223 and CD137 agonist AGEN2373 and the right-of-first negotiation for two undisclosed preclinical programs. Agenus will receive $120 million in cash and a $30 million equity investment through the purchase of 11.1 million shares at $2.70, representing about an 8.5% stake in Agenus, which is also eligible for $1.7 billion in milestones. ...