Agenus Inc., an immuno-oncology company with a pipeline of checkpoint antibodies, cell therapies, adjuvants, and vaccines, has triggered the first development milestone payment under its global licensing agreement with Bristol Myers Squibb for AGEN1777, an Fc-enhanced bispecific anti-TIGIT antibody. Agenus will receive a $20 million payment with the dosing of the first patient.
 
This Phase 1 dose escalation study is designed to evaluate the safety, tolerability, and preliminary clinical activity of AGEN1777 as a single agent and in combination with a PD-1 inhibitor in patients with advanced solid tumors. The trial will follow a standard dose-escalation design and will be used to establish the recommended Phase 2 dose (RP2D).
 
Bristol Myers Squibb aims to advance the research and development of AGEN1777 in immuno-oncology for high priority tumor indications including non-small cell lung cancer.
 
The global license agreement with Bristol Myers Squibb included a $200 million upfront payment paid in July 2021, and up to $1.36 billion in development, regulatory and commercial milestones in addition to royalties on sales. Bristol Myers Squibb is responsible for the development and commercialization of AGEN1777 and its related products worldwide. Agenus 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 AGEN1777 in the U.S. upon commercialization.