AGENUS (AGEN) Company Report

Agenus recently completed its collaboration transaction with Zydus Lifesciences, which involved the sale of its Emeryville facility and equity, providing capital and securing long-term US-based biologics manufacturing capacity.
The company's cash position after the Zydus transaction is over $60 million, with an anticipated annual operating cash burn of approximately $50 million for 2026, expected to manage affairs through the balance of the year and potentially into 2027.
Key priorities for 2026 include meeting demand for named patient programs, advancing towards U.S. and European regulatory filings for product registration, and conducting its randomized trial.
France's reimbursed AAC program for BOT/BAL has expanded to include sarcoma and ovarian cancer, in addition to colorectal cancer, indicating growing market access and potential for the treatment.

3 hours ago

Transcript

Agenus Closes Zydus Collaboration and Expands BOT/BAL Access in France

AGEN

M&A

New Projects/Investments

Guidance Update

Agenus recently closed its collaboration transaction with Zydus Lifesciences, involving the sale of its Emeryville facility and equity, which secures long-term US-based biologics manufacturing capacity and provides capital.
Following the Zydus transaction, Agenus's cash position was a little over $60 million, with an operating cash burn of approximately $50 million a year, expected to manage affairs for the balance of 2026 and potentially into 2027.
France's reimbursed AAC program for Agenus's BOT/BAL has expanded from colorectal cancer to include sarcoma and ovarian cancer in early 2026, with the French government providing full reimbursement for eligible citizens.
Agenus plans to diligently pursue accelerated approval filing for BOT/BAL in the U.S. and has found European regulators more receptive to conditional approval possibilities.

4 hours ago

Transcript

Agenus Outlines 2026 Strategic Priorities and Financial Strengthening

AGEN

New Projects/Investments

Guidance Update

Product Launch

Agenus recently closed a collaboration transaction with Zydus Lifesciences, which involved the sale of its Emeryville facility and equity, significantly strengthening its financial position and securing long-term U.S.-based biologics manufacturing capacity.
France's reimbursed Authorized Access Program (AAC) for BOT/BAL has expanded from colorectal cancer to now include sarcoma and ovarian cancer, providing access to patients with limited treatment options.
The company's priorities for 2026 include expanding appropriate patient access, diligently pursuing regulatory filings in the U.S. and Europe for product registration, and launching the BATMAN randomized trial.
Agenus faced challenging financials in the second half of last year but now possesses more financial means due to the Zydus collaboration to execute its strategic priorities.
Agenus is expanding its Medical Affairs infrastructure to support the growing interest and demand for BOT/BAL from physicians and patients, especially following the AAC program expansion.

5 hours ago

Transcript

Agenus Closes Strategic Collaboration with Zydus Lifesciences

AGEN

New Projects/Investments

Agenus Inc. announced the closing of a strategic collaboration with Zydus Lifesciences Ltd..
The collaboration provides Agenus with $141 million in strategic capital.
The agreement is designed to accelerate the global development and potential commercialization of Agenus' botensilimab and balstilimab (BOT+BAL) immunotherapy combination program.
This partnership also secures committed, long-term biologics manufacturing capacity for Agenus.

Jan 16, 2026, 5:34 PM

Press Release

Agenus announces closing of strategic collaboration with Zydus Lifesciences

AGEN

M&A

New Projects/Investments

Agenus Inc. announced the closing of its $141 million strategic collaboration with Zydus Lifesciences Ltd. on January 15, 2026, to advance its BOT+BAL immunotherapy combination program.
The collaboration includes an upfront cash payment of $75 million to Agenus for the transfer of biologics manufacturing facilities and a $16 million equity investment by Zydus in Agenus common stock.
Agenus is eligible to receive up to $50 million in contingent milestone payments triggered by BOT+BAL production orders and a 5% royalty on net sales in India and Sri Lanka, where Zydus holds exclusive development and commercialization rights for BOT and BAL.
This transaction strengthens Agenus' balance sheet and secures dedicated U.S. manufacturing capacity for its BOT+BAL clinical trials, global access programs, and future commercialization.

Jan 16, 2026, 1:25 PM

8-K

Agenus Completes Strategic Collaboration with Zydus Lifesciences

AGEN

New Projects/Investments

M&A

Agenus Inc. completed a strategic collaboration with Zydus Lifesciences Ltd., valued at $141 million, to advance its BOT+BAL immunotherapy program and strengthen US manufacturing readiness.
The financial terms of the collaboration include $75 million in cash paid to Agenus for the transfer of its manufacturing facilities in Emeryville and Berkeley, California, and a $16 million equity investment by Zydus in Agenus common stock.
Agenus is eligible to receive up to $50 million in contingent milestone payments, which will be triggered by BOT+BAL production orders.
As part of the agreement, Zydus obtained exclusive rights to develop and commercialize BOT and BAL in India and Sri Lanka, with Agenus eligible for 5% royalties on net sales in those territories.

Jan 15, 2026, 6:14 PM

Press Release

Agenus Finalizes Strategic Collaboration with Zydus Lifesciences

AGEN

New Projects/Investments

Agenus Inc. finalized a $141 million strategic collaboration agreement with Zydus Lifesciences Ltd.
The collaboration aims to accelerate the global development and potential commercialization of Agenus's botensilimab and balstilimab (BOT+BAL) immunotherapy program.
It secures long-term dedicated biologics manufacturing capacity in the United States to support BOT+BAL's clinical development, early access, and commercial supply.
Agenus granted Zydus exclusive rights to develop and commercialize BOT and BAL in India and Sri Lanka, retaining royalty rights on net sales in those territories.

Jan 15, 2026, 6:14 PM

Press Release

Agenus Finalizes Strategic Collaboration with Zydus Lifesciences for BOT+BAL Development and Manufacturing

AGEN

New Projects/Investments

Agenus has finalized a strategic collaboration agreement with Zydus Lifesciences, valued at $141 million, to advance the development of its BOT+BAL immunotherapy program and enhance U.S. production capacity.
The agreement includes an initial $75 million cash payment to Agenus for the transfer of manufacturing centers, a $16 million equity investment by Zydus in Agenus common stock, and up to $50 million in contingent milestone payments.
Agenus granted Zydus exclusive development and commercialization rights for BOT and BAL in India and Sri Lanka, while securing guaranteed manufacturing capacity for BOT+BAL at the transferred U.S. sites.
This collaboration is expected to strengthen Agenus's balance sheet and ensure dedicated U.S. manufacturing capabilities, supporting the progression of its Phase 3 program and future commercialization.

Jan 15, 2026, 6:13 PM

Press Release

Agenus completes strategic collaboration with Zydus Lifesciences

AGEN

New Projects/Investments

M&A

Agenus Inc. has completed a $141 million strategic collaboration with Zydus Lifesciences Ltd..
The collaboration aims to accelerate the global development and potential commercialization of Agenus' BOT+BAL immunotherapeutic combination program.
Agenus will receive strategic capital and secure long-term biomanufacturing capacity in the US, while granting Zydus exclusive rights for BOT and BAL in India and Sri Lanka, with Agenus eligible for royalties on net sales in these territories.

Jan 15, 2026, 6:13 PM

Press Release

Agenus Completes Zydus Lifesciences Collaboration

AGEN

M&A

New Projects/Investments

Zydus Lifesciences completed its $141 million collaboration with Agenus, which includes $75 million cash for facilities, a $16 million equity investment, and up to $50 million in contingent milestone payments.
As part of the deal, Zydus received exclusive rights to develop and commercialize botensilimab and balstilimab (BOT+BAL) in India and Sri Lanka, with Agenus retaining a 5% royalty on net sales.
Agenus will retain committed U.S. manufacturing capacity at the transferred sites to support its Phase 3 BOT+BAL development and global early-access programs.
The transaction strengthens Agenus’ balance sheet and operational readiness, though Agenus shares fell about 20% after the deal closed.
Zydus launched Zylidac Bio LLC, a U.S.-based subsidiary, to house the acquired Emeryville and Berkeley biologics manufacturing sites, which will offer CDMO services.