Pharmaceutical company, Zydus Lifesciences Ltd, on Tuesday (June 3) said its wholly owned subsidiary Zynext Ventures USA LLC has signed a Securities Purchase Agreement with Agenus Inc., USA to acquire 2,133,333 shares of common stock for $16 million.
The purchase represents a 5.9% stake in the US-based clinical-stage immuno-oncology company on a fully diluted basis.
The deal values each share at $7.50, with the acquisition to be completed in cash within 60 days, subject to applicable regulatory approvals, including those under the Hart-Scott-Rodino Antitrust Improvements Act and clearance from the Committee for Foreign Investment in the United States (CFIUS). A 30-day extension is also possible.
Agenus’ lead programme, comprising Botensilimab (BOT) and Balstilimab (BAL), is a next-generation immunotherapy platform designed to strengthen and sustain the immune system’s response against tumour cells.
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Currently in advanced clinical trials, BOT/BAL have demonstrated significant clinical activity across nine cancer types in more than 1,200 patients, including both late-stage and neoadjuvant settings.
Zynext Ventures USA LLC (Zynext) is the venture capital arm of Zydus Lifesciences, and Agenus Inc. is a leading US-based immuno-oncology company developing next-generation therapeutics for high-unmet need cancers.
Agenus reported a turnover of $103.46 million in calendar year 2024. Zydus said the investment supports its focus on novel therapies and deepens its presence in the global biopharma ecosystem.
Agenus, headquartered in Lexington, Massachusetts, also develops checkpoint antibody candidates, vaccines, and cell therapies. The proposed acquisition is not a related party transaction, and none of Zydus’ promoter entities have any interest in the deal.
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In addition to capital, Zynext Ventures will bring deep expertise in data analytics and access to a broad global network of biotech, regulatory, and clinical partners.
This synergistic approach aims to unlock new avenues for Agenus, enabling the company to broaden the application of its BOT/BAL programme into earlier lines of treatment and address a wider spectrum of cancers with significant unmet medical needs.
Shares of Zydus Lifesciences Ltd ended at ₹924.30, down by ₹4.65, or 0.50%, on the BSE.
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