Agenus Grants Bristol Myers Squibb License To Bispecific Antibody Program, AGEN1777 - Quick Facts

(RTTNews) - Clinical-stage immuno-oncology company Agenus Inc. (NASDAQ: AGEN) announced an agreement under which Bristol-Myers Squibb Co. (BMY) will be granted a global exclusive license to its proprietary bispecific antibody program, AGEN1777, that blocks TIGIT and a second undisclosed target.

AGEN1777 is an Fc-enhanced antibody in late preclinical development designed to target major inhibitory receptors expressed on T and NK cells to improve anti-tumor activity.

Under terms of the agreement, Agenus will receive a $200 million upfront payment and up to $1.36 billion in development, regulatory and commercial milestones plus royalties on net product sales.

Agenus expects to file an Investigational New Drug application for the development of AGEN1777 with the FDA in the second quarter of 2021.

In addition, Bristol Myers Squibb intends to advance the research and development of AGEN1777 in immuno-oncology for high priority tumor indications including non-small cell lung cancer.