Pennington: Zynext Ventures USA LLC, the venture capital arm of Zydus Lifesciences Limited, has entered into Securities Purchase Agreement with Agenus Inc., USA to acquire 2,133,333 shares of common stock having par value of USD 0.01 per share, representing 5.9% of the paid-up share capital of the Agenus Inc. (on fully diluted basis) at a purchase price of USD 7.50 per share aggregating to approximately USD 16 million.
Agenus Inc. is a leading US-based immuno-oncology company developing next generation therapeutics for high-unmet need cancers.
Agenus’ lead programme comprising Botensilimab (BOT) and Balstilimab (BAL), is a nextgeneration immunotherapy platform designed to strengthen and sustain the immune system’s response against tumour cells. Currently in advanced clinical trials, BOT/BAL have demonstrated significant clinical activity across nine cancer types in more than 1,200 patients, including both late-stage and neoadjuvant settings.
"Our investment in Agenus aligns perfectly with our vision to advance life-changing therapies and offer novel solutions anchored on science, innovation and health to empower patients." said Dr. Sharvil Patel, Managing Director of Zydus Lifesciences. "Our extensive global partner network will also play a key role in supporting Agenus’ entry into new indications and geographies, allowing these innovative therapies to reach more patients, faster. This collaboration will help propel Agenus’ programmes and unlock their full potential."
"In addition to capital, Zynext Ventures will bring deep expertise in data analytics and access to a broad global network of biotech, regulatory, and clinical partners. This synergistic approach aims to unlock new avenues for Agenus, enabling the company to broaden the application of its BOT/BAL programme into earlier lines of treatment and address a wider spectrum of cancers with significant unmet medical needs," the release stated.
Dr. Garo Armen, Chairman and CEO of Agenus, said, “We are delighted to partner with Zynext Ventures in a truly synergistic relationship. BOT/BAL’s remarkable results across nine distinct cancers, in both late-stage and neoadjuvant settings, inspire us to push the boundaries of what is possible in oncology. Zydus’ commercial reach and expertise make them an ideal partner to accelerate the delivery of this potentially transformative therapy.”
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