Goodwin Procter attorneys recently advised Agenus Inc. on its $115 million non-dilutive royalty transaction with Oberland Capital Management. Agenus plans to use the proceeds to advance its immune-oncology programs. Terms of the transaction are available in the press release.
Agenus, based in Lexington, Mass., is an immunology company engaged in the discovery and development of checkpoint modulators, vaccines and adjuvants to treat cancer and other diseases. Using its Retrocyte Display™ and SECANT® platforms, the company is discovering and developing antibodies to target GITR, OX40, CTLA-4, LAG-3, TIM-3, PD-1, CEACAM1 and other undisclosed checkpoints in partnered and internal programs. Agenus' heat shock protein vaccine, Prophage, has successfully completed Phase 2 studies in newly diagnosed glioblastoma multiforme. The company's QS-21 Stimulon® adjuvant is partnered with GlaxoSmithKline and Janssen Sciences Ireland UC. Agenus is traded on the Nasdaq exchange under ticker ‘AGEN.”