Zydus Lifesiences, an Ahmedabad, India-based bio/pharmaceutical compay, has agreed to acquire the manufacturing assets of Agenus, a Lexington, Massachusetts bio/pharmaceutical company specializing in immuno-oncology, to form a new biologics CDMO in a $141-million deal. The deal includes Agenus’ manufacturing facilities in Emeryville and Berkeley, California for $75 million upfront plus contingent payments up to $50 million, and a $16-million equity stake in Agenus by Zydus.  

Zydus’ CDMO business will operate as an independent entity and will house the acquired manufacturing capabilities. Agenus will become Zydus’ first CDMO customer through an exclusive manufacturing agreement for Agenus’ investigational immuno-oncology candidates, botensilimab and balstilimab. In addition, Zydus will also have first right of negotiation to manufacture any of the future pipeline products developed by Agenus. 

Agenus will also receive up to an additional $50 million in contingent payments, to be paid over three years, triggered by botensilimab/balstilimab production orders, and an exclusive license to develop and commercialize botensilimab/balstilimab in India and Sri Lanka, with Agenus paying to Zydus a 5% royalty on net sales in those countries. 

Zydus will also make a $16-million equity investment in Agenus by purchasing approximately 2.1 million shares of Agenus common stock at $7.50 per share, totaling approximately $16 million in gross proceeds. Agenus says it ntends to apply the net proceeds from the sale of the purchased shares for working capital and general corporate purposes and to accelerate ongoing clinical development, registration. and potential commercialization of botensilimab/balstilimab. 

The transaction is subject to customary closing conditions and satisfactory due diligence. The parties aim to complete closing agreements within 60 days (as reported on June 3, 2025).  

Source: Agenus and Zydus Lifesciences