May 2021 Top Biopharma Deal: Agenus – BMS for AGEN-1777 Bispecific Anti-TIGIT Antibody for Non-Small Cell Lung Cancer
May 2021 Top Biopharma Deal Upfront
Agenus development and commercialization deal with BMS for AGEN-1777
Highlighted Deal Financial Comps
Date Announced:
May. 18, 2021
Total Deal Value:
$1,560M
Upfront Cash:
$200M
Upfront Equity:
n/a
Option Payments:
n/a
Total Milestones:
$1,360M Dev., Reg., Sales
Royalties:
Tiered Double-Digit
Cost & Profit Split:
n/a
Deal Synopsis
The Asset:
Preclinical bispecific anti-TIGIT antibody AGEN-1777 and an undisclosed target immuno-oncology therapy, including non-small cell lung cancer (NSCLC).
Deal Structure:
Development and Commercial License
Partnership Features:
Agenus has an exclusive option to develop undisclosed targets and option to co-promote in the U.S.
Deal Details:
- Agenus granted BMS exclusive, worldwide rights to develop and commercialize AGEN-1777 and an undisclosed target as immuno-oncology therapies, including non-small cell lung cancer (NSCLC).
- Agenus will initiate the IND application for AGEN-1777.
- BMS will be responsible for all further development and commercialization.
- Agenus has an exclusive option to develop undisclosed targets and will have an option to co-promote in the U.S.
- Agenus will receive $200M up front and is eligible to receive up to $1.36B in milestones, plus tiered double-digit royalties.
Last Month:
Congrats to Agenus and BMS for landing the DealForma May 2021 Top Biopharma Deal Upfront. The Deal of the Month for April 2021 was the CRISPR – Vertex deal for CTX001. Read about it here.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.
We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
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