Agenus To Receive Milestone Payment From Bristol Myers Squibb - Quick Facts

(RTTNews) - Agenus Inc. (AGEN) said it has triggered the second development milestone payment under global licensing agreement with Bristol Myers Squibb for BMS-986442. Agenus will receive a $25 million cash payment from Bristol Myers Squibb with the dosing of the first patient in the phase 2 dose expansion portion of the CA115-001 trial.

Agenus said it retains options to conduct clinical studies under the development plan, to conduct combination studies with certain other Agenus pipeline assets, to co-fund global development for increased U.S. royalties, and to co-promote BMS-986442 in the U.S. upon commercialization.

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