Agenus (NASDAQ:AGEN) inks an agreement with Hangzhou-based Betta Pharmaceuticals for the development and commercialization of PD-1 inhibitor balstilimab and CTLA-4 inhibitor zalifrelimab in Greater China, including the mainland, Hong Kong, Macau and Taiwan.
Under the terms of the deal, AGEN will receive 15M in upfront cash plus a 20M equity investment, up to 100M in milestones and royalties on net sales. Betta will have exclusive rights to both drugs either as monotherapies or in combination, exclusive of intravesical (drug administered directly into the bladder) delivery.