Agenus pock­ets a fast $80M in cash and hands the R&D keys over to In­cyte

Look­ing to put some cash in the bank and cut back on its burn rate, Agenus $AGEN is step­ping out of a 50/50 de­vel­op­ment deal it struck with In­cyte $IN­CY and set­tling for a roy­al­ty slice on some of the work they’re do­ing to­geth­er.

Back in ear­ly 2015, In­cyte paid $60 mil­lion for an up­front and eq­ui­ty and promised up to $350 mil­lion in mile­stones to jump on board Agenus’s an­ti­body dis­cov­ery plat­form. That deal cov­ered a slate of check­point reg­u­la­tors that could be cru­cial to In­cyte’s fu­ture cov­er­ing GITR, OX40, LAG-3 and TIM-3.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.