Gilead expands immuno-oncology pipeline with license from Agenus

Gilead Sciences Inc. (NASDAQ:GILD) received rights to a bispecific immuno-oncology molecule and options for two additional immuno-oncology candidates from Agenus Inc. (NASDAQ:AGEN). The deal, Gilead's second of the week, will also extend Agenus’ cash reserves.

Gilead received exclusive, worldwide rights to AGEN1423, options to bispecific antibody AGEN1223 and CD137 agonist AGEN2373 and the right-of-first negotiation for two undisclosed preclinical programs. Agenus will receive $120 million in cash and a $30 million equity investment through the purchase of 11.1 million shares at $2.70, representing about an 8.5% stake in Agenus, which is also eligible for $1.7 billion in milestones. ...