BMS sees potential first-in-class therapy in deal for Agenus’ bispecific TIGIT-targeting mAb

BMS’s belief that Agenus has built a differentiated TIGIT-targeting bispecific molecule has resulted in a potentially transformative deal for the biotech, delivering $200 million up front for the preclinical program to fuel its further aspirations in immuno-oncology.

Agenus Inc. (NASDAQ: AGEN) granted Bristol Myers Squibb Co. (NYSE: BMY) exclusive, worldwide rights to AGEN1777, which is a bispecific antibody against TIGIT and an undisclosed target. The deal could supply Agenus with nearly $1.4 billion in additional milestones, plus double-digit royalties...