Zydus buys Agenus' biologics plants in US for $125 mn, licenses cancer therapy
Zydus Lifesciences announced on Tuesday it is acquiring two biologics contract manufacturing facilities in California from US-based Agenus Inc for a total consideration of up to $125 million. The deal includes an upfront payment of $75 million, with the remaining $50 million to be paid over the following three years.
The Ahmedabad-based pharmaceutical firm said the acquisition will establish its presence in the rapidly-expanding global biologics contract development and manufacturing organization (CDMO) sector.
Zydus is also acquiring a 5.9% stake in Agenus for $16 million, through its wholly-owned subsidiary Zynext Ventures USA LLC, it said in an exchange filing on Tuesday.
The drugmaker has also entered into a licensing agreement with Agenus to commercialise its investigational Botensilimab (BOT) and Balstilimab (BAL) combination therapy in India and Sri Lanka.
Agenus is a clinical-stage immuno-oncology company committed to developing immune therapies against cancer.
The move to acquire biologics manufacturing facilities in the US aligns with Zydus' strategic focus on biologics as a key growth driver this year.
Also Read: Glenmark-Ichnos cancer drug shows 74% response in phase-1 trial
"The acquisition will give Zydus a strategic foothold in the US for biologics manufacturing in the global hub for biotech innovation, California," managing director Sharvil Patel said in a statement. 'This move strengthens our long-term biologics vision and positions us to better serve the evolving needs of the global biopharmaceutical industry," he added.
Additionally, the acquisition gives the company a stronger manufacturing presence in the US, amid ongoing uncertainties over potential American tariffs on pharmaceutical imports.
In the company's earnings call last month, Patel had said the company is evaluating opportunities for local manufacturing in the US. 'We have committed to making a good amount of investments in the US with our foray into specialty and other areas," he told investors.
Exclusive manufacturer to Agenus
Under the terms of the agreement, Zydus will acquire two modern biologics manufacturing facilities from Agenus in Emeryville and Berkeley, California, for an upfront consideration of $75 million and contingent payment of $50 million to be paid over three years subject to achievement of certain revenue milestone.
The acquisition provides Zydus immediate access to advanced biologics manufacturing capabilities and a foothold in California, a leading global biotech hub. The move also enables Zydus to 'leverage supply chain dynamics and a favourable geopolitical environment to expand its reach in the U.S. and globally," it said in the release.
Also Read: KKR provides $600 mn financing to Manipal Group to fuel its corporate expansion
The CDMO business will operate as an independent entity and will house the acquired manufacturing capabilities.
As part of the transaction, Zydus will become the exclusive contract manufacturer for Agenus, and provide manufacturing services for the clinical and commercial supply of two identified Phase-3 ready immuno-oncology products - Botensilimab and Balstilimab.
Zydus will also have the first right of negotiation to manufacture any of the future pipeline products by Agenus.
Agenus reported a turnover of $103.46 million in 2024, according to the exchange filing.
Agenus' lead programme comprising Botensilimab and Balstilimab is a next-generation immunotherapy platform designed to strengthen and sustain the immune system's response against tumour cells. The platform, which is currently in advanced clinical trials, has demonstrated significant clinical activity across nine cancer types in more than 1,200 patients, including both late-stage and patients who have undergone neoadjuvant, or primary, therapy.
As part of the licensing agreement inked with Agenus, Zydus will be responsible for clinical development and regulatory approvals of the licensed products in India and Sri Lanka and will pay 5% royalty on net sales upon successful approval and commercialization.
Also Read: Young heirs take charge as Indian pharma firms plan succession
Zydus will expand the reach of the therapy within its initial indications, as well as drive its expansion into other high unmet need indications and earlier lines of treatment, including primary treatments, the company said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
Iran Israel war: Iranian President warns 'devastating' response, vows to continue nuclear activity
Iran's health ministry on Saturday gave a toll of more than 400 people killed and 3,056 in the Israeli strikes. Iran's retaliatory strikes have killed at least 25 people in Israel, according to official figures. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs Iran's President Masoud Pezeshkian warned Saturday that his country's response to continued Israeli "aggression" will be "more devastating", as fighting raged between the two foes for a ninth day. President Masoud Pezeshkian said that his country will not halt nuclear activity "under any circumstances" amid ongoing fighting with Israel which hit nuclear sites."Our response to the continued aggression of the Zionist regime will be more devastating," said Pezeshkian during a phone call with French President Emmanuel Macron, according to the official IRNA news agency, AFP reported."We are ready to discuss and cooperate to build confidence in the field of peaceful nuclear activities, however, we do not agree to reduce nuclear activities to zero under any circumstances," said Pezeshkian during a phone call with French President Emmanuel Macron, according to the official IRNA news and Iran have traded wave after wave of devastating strikes since Israel launched its aerial campaign on June 13, saying Tehran was on the verge of developing a nuclear denies seeking an atomic bomb, and on Saturday Pezeshkian said its right to pursue a civilian nuclear programme "cannot be taken away... by threats or war".A US-based NGO, the Human Rights Activists News Agency, said on Friday that based on its sources and media reports at least 657 people have been killed in Iran, including 263 health ministry on Saturday gave a toll of more than 400 people killed and 3,056 in the Israeli strikes. Iran's retaliatory strikes have killed at least 25 people in Israel, according to official figures.A1. President of Iran is Masoud Pezeshkian.A2. Iran's health ministry on Saturday gave a toll of more than 400 people killed and 3,056 in the Israeli strikes. Iran's retaliatory strikes have killed at least 25 people in Israel, according to official figures.
Time of India
an hour ago
- Time of India
Court rejects pre-arrest bail plea of FCI official booked in bribery case
Mumbai: A special CBI court rejected the anticipatory bail application of Navin Kumar, assistant general manager of the Food Corporation of India (FCI), Mumbai Regional Office. Tired of too many ads? go ad free now He was booked along with a Hyderabad-based businessman for alleged corrupt practices in tender processes and payment clearance. The judge stated that considering the "nature and gravity of the offence" and the allegations against the accused, custodial interrogation was warranted to "unearth the conspiracy". The judge remarked that the allegations levelled against the applicant cannot be brushed aside at this stage. "There is no submission that the accused was falsely roped in or that the allegations are motivated or frivolous or that he has been framed with an oblique motive," said the judge. The judge further noted that the material on record reveals that the officers of the FCI demanded bribes from private individuals to secure favourable orders in the ongoing tender process. The investigating officer has placed on record transcripts of telephone calls intercepted by the CBI, which indicate that the accused was a party to the conversation. "The applicant was discussing the 'award' of the tender, as well as money to be paid to the 'general manager' for the award of the tender. Moreover, another General Manager was apprehended while accepting a cash amount of Rs 20 lakh from the accused, Uma Maheshwar. There is prima facie evidence to indicate that the applicant was involved in accepting illegal gratification for securing a favourable outcome of tenders," the judge said. According to the FIR, CBI received information indicating Kumar and another AGM, Srinivas Mylapalli, colluded with private persons to secure contracts and favourable tender results.
Hindustan Times
an hour ago
- Hindustan Times
Federal Judge James Boasberg orders Marc Rubio to hand over Trump officials' Signal scandal messages to DOJ; Here's why
Federal Judge James Boasberg has ordered US Secretary of State Marco Rubio, also serving as acting archivist, to collect infamous Signal group chat scandal messages and transfer them to the Department of Justice (DOJ) for review. The data includes messages belonging to the top officials in the Donald Trump administration that might be at risk of deletion, Fox News reported. US Secretary of State Marco Rubio and US President Donald Trump(Bloomberg) Also Read: Tulsi Gabbard brutally mocked over 'religion' after U-turn on Iran nuclear threat The court was hearing the lawsuit brought by nonprofit government watchdog American Oversight. This came after journalist Jeffrey Goldberg claimed he was inadvertently added to a messaging chain, which included top national security officials in the Trump administration. They are allegedly planning a strike against the Yemen-based Houthis, according to Law & Crime. Also read: Donald Trump nominated for Nobel Peace Prize: Origin, impact and other key details Earlier, the Atlantic also published a story detailing the Signal chat, in which discussion took place regarding imminent plans to conduct airstrikes against the Houthis, Fox News reported. Judge Boasberg's statement The federal judge stated that the court records highlight that five officials from the Trump administration 'have thus far neglected to fulfill their duties' under the Federal Records Act. Notably, Boasberg is considered among Trump's judicial nemeses post his verdicts in the immigration matter. Judge Boasberg said American Oversight had a strong case against the officials, who used the encrypted messaging app to communicate for work purposes. He added that they even allowed the messages to auto-delete. The lawsuit asked for a preliminary injunction to force the Trump administration to update the record-keeping policies. It sought to preserve all messages while the matter was being heard, besides ordering Rubio to request Attorney General Pam Bondi to get the deleted messages. FAQs 1. Who appointed US district Judge James Boasberg? James Boasberg was appointed by former US President Barack Obama. 2. How did the Donald Trump administration respond to the matter? The Trump administration has denied any wrongdoing in the matter, insisting that the communication was not "classified," as per Fox News report. 3. Who was involved in the Signal incident? It included Marco Rubio, Secretary of Defense Pete Hegseth, CIA Director John Ratcliffe, Director of National Intelligence Tulsi Gabbard among others.
