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* $10M milestone payment from Merck activated * Agenus is eligible for around an extra $eighty five million in milestones in addition royalties on salesLEXINGTON, Mass., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Agenus Inc. (NASDAQ: AGEN), an immuno-oncology company with an intensive pipeline of checkpoint antibodies, cell therapies, adjuvants, and vaccines intended to activate immune reaction to cancers and infections, today announced that a milestone payment of $10M from Merck has been induced With all the advancement of an ILT4 antibody, MK-4830, right into a Phase 2 scientific demo. Agenus identified this novel checkpoint antibody, meant to focus on immune-suppressive myeloid website cells inside the tumor microenvironment for your remedy of Innovative solid tumors, and licensed the molecule to Merck.“Novel myeloid cell concentrating on antibodies hold the probable to deal with people who at the moment usually do not get pleasure from Key checkpoint antibodies,†explained Garo Armen, Chairman and CEO of Agenus. “We've been excited about the development of MK-4830 and look forward to providing our own wholly-owned novel myeloid tuning agent on the clinic future yr.â€Merck is analyzing MK-4830 in combination with KEYTRUDA® (pembrolizumab) in the Period 2 examine in sufferers with PD-L1 optimistic Superior non-modest cell lung cancer (NCT04165083) with info offered at ESMO previously this year: the terms with the settlement, Merck is to blame for all product or service improvement expenses for MK-4830 and Agenus is suitable to receive as much as $85 million in further potential milestone payments, along with royalties on throughout the world solution income. Beneath its Royalty Invest in Settlement with XOMA LLC, Agenus retains ninety% of all milestones from Merck and 67% of foreseeable future royalties.About Agenus Agenus is often a clinical-phase immuno-oncology firm centered on the discovery and enhancement of therapies that engage your body's immune technique to fight cancer. The corporate's eyesight would be to grow the affected person populations benefiting from most cancers immunotherapy by pursuing blend approaches that leverage a wide repertoire of antibody therapeutics, adoptive mobile therapies (by its AgenTus Therapeutics subsidiary), and proprietary most cancers vaccine platforms.
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