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Agenus Says Gilead Hits Clinical Milestone for Melanoma Drug Candidate, Triggering $5 Million Payment

10:20AM ET 4/05/2022 MT Newswires
Agenus (AGEN) said Tuesday its collaboration partner Gilead Sciences (GILD) has achieved a clinical milestone for melanoma drug candidate AGEN2373, triggering a payment of $5 million.

AGEN2373 is currently being tested in a phase 1b study in combination with botensilimab as a potential treatment for melanoma patients who have had prior therapy. It showed preliminary clinical benefit and has been well-tolerated without signs of liver toxicity, the company said.

Under the companies' agreement, Gilead has an exclusive license to AGEN2373, while Agenus may share in the development and commercialization costs in the US. Agenus will have a 50% share in the profit and co-commercialization rights in the US in exchange.

Shares of Agenus declined 1.2% in recent trading activity, while Gilead added 0.4%.

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