Lexington, Mass.– Agenus Inc. has entered into a $141 million strategic partnership with India-based Zydus Lifesciences aimed at advancing the development and commercialization of its immunotherapy candidates botensilimab and balstilimab (BOT/BAL), while also transferring key biologics manufacturing operations in California.
Under the agreement, Zydus will pay $75 million upfront to acquire Agenus’ biologics manufacturing assets in Emeryville and Berkeley, California. The facilities will become flagship U.S. sites for Zydus’ new biologics contract development and manufacturing organization (BioCDMO) business. An additional $50 million in milestone payments could be triggered by future production orders of BOT/BAL.
Agenus, a leader in immuno-oncology, will retain manufacturing rights through an exclusive agreement that ensures BOT/BAL supply readiness for regulatory filings and potential commercial launch. In tandem, Zydus will receive exclusive rights to develop and market BOT/BAL in India and Sri Lanka. Agenus will earn a 5 percent royalty on net sales in those countries.
To further solidify the collaboration, Zydus will invest $16 million in Agenus through the purchase of approximately 2.1 million shares at $7.50 per share. Agenus plans to use the proceeds to fund its clinical programs and support the regulatory advancement of BOT/BAL.
“This partnership allows us to unlock significant value from our manufacturing assets while accelerating the global potential of BOT/BAL,” said Dr. Garo Armen, CEO of Agenus. “It also reflects the strengthening trade and biopharma collaboration between the U.S. and India, and our shared commitment to building secure and scalable supply chains in oncology therapeutics.”
Dr. Sharvil Patel, Managing Director of Zydus Lifesciences, emphasized the global significance of the agreement. “We are excited to partner with Agenus and bring BOT/BAL to patients in India and Sri Lanka, where the need for innovative cancer therapies is pressing. This collaboration also opens the door for global expansion beyond colorectal cancer into other difficult-to-treat diseases such as triple-negative breast cancer.”
Zydus, which operates in over 55 countries with a workforce of more than 27,000, will leverage its global footprint to manufacture and distribute BOT/BAL, while also offering contract services to other biopharmaceutical companies through its newly acquired U.S. facilities.
The deal, which is still subject to customary closing conditions and due diligence, is expected to be finalized within 60 days. Once complete, it will mark a significant step in expanding access to next-generation cancer immunotherapies while strengthening global biologics manufacturing capabilities.
