Bristol Myers Squibb Enters into Agreement with Agenus for Up to $1.56 Billion

Bristol Myers Squibb announced on May 18, 2021 that it has entered into a definitive agreement with Agenus, a US-based clinical-stage immuno-oncology (I-O) company, for up to $1.56 billion for a global exclusive license to Agenus’ proprietary bispecific antibody program, AGEN1777, that blocks T cell immunoglobulin and immunoreceptor tyrosine-based inhibitory motifs domain (TIGIT) and a second undisclosed target.

Under the terms of the agreement, Agenus will obtain an upfront payment of $200 million and up to $1.36 billion in development, regulatory, and commercial milestones along with tiered double-digit royalties on net product sales, Agenus said in a company press release. Additionally, Bristol Myers Squibb will be responsible for the development and commercialization of the program and any related products worldwide.

Agenus plans to file an investigational new drug application with FDA for the development of AGEN1777 in the second quarter of 2021, while Bristol Myers Squibb intends to advance the research and development of the program in I-O for high priority tumor indications, including non-small cell lung cancer.

“AGEN1777’s differentiated mechanism of action provides the potential for potent anti-tumor activity; catalyzing our clinical TIGIT strategy aimed at serving more patients with unmet needs in cancer,” said Debbie Law, senior vice-president, head of Tumor Microenvironment Thematic Research Center, Bristol Myers Squibb, in the press release. “We look forward to working with Agenus to develop this important therapy as we continue to combat I-O resistance.”

“We are pleased to partner with Bristol Myers Squibb to develop and commercialize AGEN1777. Their stellar record of success in this area has been an important determinant for our decision to enter into this transaction,” said Garo Armen, PhD, chairman and CEO of Agenus, in the press release. “Through such transactions we are able to balance between advancing our portfolio with highly qualified collaborators, while retaining our other innovations for speedy development and commercialization by Agenus.”

Source: Agenus