Agenus (AGEN) has issued an update.
In a striking turn of events for investors, Agenus Inc. has regained control of its TIGIT bispecific antibody program, AGEN1777, as Bristol Myers Squibb (BMS) plans to terminate their existing license agreement in January 2025. BMS’s strategic pipeline shift came despite making significant payments totaling $245 million to Agenus, including milestone payments linked to the program’s clinical advancements. With no penalties for the early termination, Agenus now looks to potentially relicense or further develop AGEN1777, bolstered by promising safety and clinical activity data, along with BMS’s transfer of related know-how, patent rights, and regulatory approvals.
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