Agenus raises $85M upfront (up to $340M) to fund registrational Phase 3 ROBBIN trial of BOT+BAL in MSS colon cancer

AGENUS INC

• Private placement of $85M upfront gross proceeds, plus up to $255M from warrant exercise; total up to $340M.
• Proceeds to fund ROBBIN Phase 3 trial in neoadjuvant MSS colon cancer; expected runway through year-end 2031 if warrants exercised.
• ROBBIN trial to enroll 850 patients, primary endpoint EFS; first patient dosed Q1 2027, interim pathologic response data H2 2027.
• Discontinuing financial support for BATTMAN Phase 3 in late-line metastatic MSS CRC.
• Phase 2 data: pathologic response ~60-70%, MPR ~35-40%, pCR ~30%; all patients disease-free at median 9-18 months follow-up.