BMS terminates AGEN1777 license; Agenus regains rights to TIGIT bispecific antibody

AGENUS INC

BMS voluntarily terminates AGEN1777 license agreement effective Jan 26, 2025, as part of strategic pipeline realignment.
Agenus received $200M upfront plus $20M (Phase 1) and $25M (Phase 2) milestone payments from BMS since 2021.
No early termination penalties; Agenus gets exclusive, royalty-free license to BMS know-how and patent rights for AGEN1777.
BMS will assign all regulatory registrations and approvals for AGEN1777 back to Agenus.
Agenus plans to explore further development or relicensing of AGEN1777, now with safety and clinical activity data.

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