Zydus Lifesciences Subsidiary to Acquire 5.9% Stake in Agenus Inc. for USD 16 Million
Zydus Lifesciences Limited's wholly owned subsidiary, Zynext Ventures USA LLC, has entered into a Securities Purchase Agreement with Agenus Inc., USA to acquire 2,133,333 shares of common stock, representing 5.9% of the fully diluted share capital of Agenus Inc. The transaction is valued at approximately USD 16 million. Agenus Inc. is a clinical-stage immuno-oncology company committed to developing immune therapies that effectively combat cancer. Its lead programme comprises Botensilimab (BOT) and Balstilimab (BAL), which are next-generation immunotherapy platforms designed to strengthen and sustain the immune system’s response against tumour cells. The proposed acquisition aligns with Zydus Lifesciences' objective of advancing life-changing therapies and offering novel solutions.
Key Highlights
- Zydus Lifesciences' subsidiary to acquire 5.9% stake in Agenus Inc. for approximately USD 16 million.
- Agenus Inc. is a clinical-stage immuno-oncology company with a lead programme comprising Botensilimab (BOT) and Balstilimab (BAL).
- The proposed acquisition aligns with Zydus Lifesciences' objective of advancing life-changing therapies and offering novel solutions.
- The transaction is subject to required filings / approvals under the applicable laws, including Hart-Scott-Rodino Anti-Trust Improvements Act, 1976 (USA) and Committee for Foreign Investment in the United States (CFIUS).
- The acquisition is expected to be completed within 60 days from the date of execution of the definitive agreement, with a potential 30-days extension.