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.
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.