Agenus acquired Celexion, LLC (antibody-discovery assets) for $1M cash + 574,140 shares (~$3M) at closing, plus up to $10M in additional cash/stock consideration.
In an asset purchase closed April 7, 2015, Agenus acquired the key antibody-discovery assets of Celexion, LLC, a privately held Cambridge, Massachusetts biotech. The purchased assets included Celexion's SECANT yeast-display platform, its full-length IgG antibody library, technology for discovering molecules against cell-membrane-associated antigens (such as GPCRs and ion channels), and related intellectual property.
Pairing Celexion's SECANT yeast-display technology with Agenus' own Retrocyte Display mammalian platform created what the company described as a uniquely powerful, speed- and cost-advantaged antibody-discovery engine to accelerate internal and partnered programs, including those with Merck and Incyte.
We are highly focused on dissecting the interactions of cancer and the immune system, allowing us to select key points for therapeutic interventions.
Advisory firms were not disclosed for this transaction.