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First QS-21 Royalty Payment Due to Agenus is Triggered
$15.1M Milestone from HealthCare Royalty Partners
LEXINGTON, Mass., March 10, 2020 / PRNewswire/ -- Agenus Inc. (NASDAQ: AGEN), an immuno-oncology company with an extensive pipeline of agents designed to activate immune response to cancers, announced the triggering of a $15.1M milestone payment from HealthCare Royalty Partners (HCR) based on net sales of GlaxoSmithKline's (GSK's) Shingrix vaccine exceeding $2.0B in 2019.
Agenus' proprietary QS-21 Stimulon™ is one of the most potent adjuvants known and is a key component in GSK's Shingrix vaccine, which has generated blockbuster sales exceeding $2.3Bn in its second year after launch. Agenus is due another milestone amounting to $25.5M if Shingrix net sales exceed $2.75B over four consecutive quarters before 2026.
About Agenus
Agenus is a clinical-stage immuno-oncology company focused on the discovery and development of therapies that engage the body's immune system to fight cancer. The Company's vision is to expand the patient populations benefiting from cancer immunotherapy by pursuing combination approaches that leverage a broad repertoire of antibody therapeutics, adoptive cell therapies (through its AgenTus Therapeutics subsidiary), and proprietary cancer vaccine platforms. The Company is equipped with a suite of antibody discovery platforms and a state-of-the-art GMP manufacturing facility with the capacity to support clinical programs. Agenus is headquartered in Lexington, MA. For more information, please visit www.agenusbio.com and our Twitter handle @agenus_bio. Information that may be important to investors will be routinely posted on our website and twitter.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding the anticipated additional milestone payment of $25 million based on GSK's sales of Shingrix. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the factors described under the Risk Factors section of our most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K filed with the Securities and Exchange Commission. Agenus cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and Agenus undertakes no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Contact:
Agenus Inc.
Regina Grebla, PhD
781-674-4495
Regina.Grebla@agenusbio.com
SOURCE Agenus Inc.
News Release Issued: Mar 10, 2020 (9:14am EDT)
To view this release online and get more information about Agenus Bio InvestorRoom visit: investor.agenusbio.com |
