11:23 AM EDT, 06/03/2025 (MT Newswires) -- Agenus ( AGEN ) has agreed to sell its biologics manufacturing facilities in the US to Zydus Lifesciences for $75 million upfront and up to an additional $50 million over three years, based on revenue milestones, the companies said separately on Tuesday.

The deal includes two facilities located in Emeryville and Berkeley, California, they said.

Agenus ( AGEN ) said it will grant Zydus exclusive commercial rights for two near-market immuno-oncology therapies, Botensilimab and Balstilimab, in India and Sri Lanka, in exchange for a 5% royalty on net sales from those markets payable to Agenus ( AGEN ).

As part of the collaboration, Zydus will invest about $16 million in Agenus ( AGEN ) by purchasing 2.1 million shares at $7.50 each to support working capital and advance the clinical and commercial path for botensilimab and balstilimab, Agenus ( AGEN ) added.

The deal is expected to close within 60 days following customary closing conditions and due diligence, according to Agenus ( AGEN ).

Zydus said it also secured negotiation rights for manufacturing any future products from Agenus' ( AGEN ) pipeline.

Shares of Agenus ( AGEN ) surged about 23% in recent trading.

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