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news.US-based developer of new immunotherapeutics, including a portfolio of checkpoint modulators (CPMs), anti-cancer vaccines and adjuvants, Agenus has completed the acquisition of Switzerland-based biopharmaceutical firm 4-Antibody.
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With the acquisition, Agenus will now be able to use 4-Antibody’ Retrocyte Display technology platform, which helps in the discovery and optimization of fully human antibodies against a wide range of molecular targets.
Since the last three years, 4-Antibody has been using Retrocyte Display technology in the development of new therapeutic antibodies to six major checkpoint targets that regulate immune response to cancers and other diseases.
Currently, 4-Antibody has multiple preclinical immune CPM programs in development.
As part of the deal, Agenus has acquired all outstanding stock of 4-Antibody for about 3.3 million shares of Agenus common stock, plus additional contingent payments, payable in cash or Agenus common stock, that may exceed $40m based on the combined company achieving certain milestones.
The company also plans to continue 4-Antibody’s operations in Basel, Switzerland and Jena, Germany as well as retain its management team as part of the combined company.
Additionally, Shahzad Malik general partner at Advent Venture Partners, 4-Antibody’s largest investor, has been appointed to Agenus’ Board of Directors upon the closing of the deal.
Agenus CEO and chairman Garo Armen said through the acquisition, the company has gained six programs targeting key checkpoints that it plans to pursue vigorously.
"These assets, together with the substantial capital raised in our recent public offering, position us well to develop a portfolio of innovative immunotherapies for cancer," Armen said.
"In addition, Agenus now has a flexible platform for rapid discovery and optimization of fully-human antibodies against a wide array of molecular targets, which we plan to leverage on our own, with pharma partnerships, and through our collaborations with Ludwig Cancer Research and Memorial Sloan Kettering Cancer Center."
Image: Agenus will use 4-Antibody’ Retrocyte Display technology to discovery new therapeutic antibodies. Photo: courtesy of Baitong333/ freedigitalphotos.net