Agenus touts blockchain tech to roll out new ‘digital security’ for its PD-1, but will it work?
Beset with setbacks, a once cash-poor Agenus had something to cheer late last year when behemoth Gilead signed on as a partner on up to five of its immuno-oncology programs. On Tuesday, the biotech offered investors an intriguing proposal: fund the development of a single drug, while preserving shareholder equity.
In perhaps the first instance of a biopharma company conducting such a ‘digital security’ offering, Agenus said it was launching a token designed to enable qualified investors to directly invest in a single biotech product – in this case, the tokens issued will represent a portion of potential future US sales of AGEN2034, Agenus’ late-stage anti-PD-1 antibody.
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