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Agenus issues $10mm in stock up front for 4-Antibody
10 Feb 2014
Executive Summary
Agenus Inc. (immunomodulators for oncology and infectious diseases) acquired privately held 4-Antibody AG for $10mm in stock up front (approximately 3.5mm shares based on Agenus’ ten-day average) and the assumption of $1.5mm in debt. 4-Antibody is also entitled to over $40mm in earn-outs in cash or stock based on the occurrence of certain milestones, including the combined entity’s market cap exceeding various thresholds ($300mm, $750mm, and $1bn) during specific time periods, the signing of a licensing agreement for 4-Antibody’s Retrocyte Display technology on or before March 31, 2014, or a company sale.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Drug Discovery Tools
- Synthesis Technologies, Production Processes
-
Large Molecule
- Antibodies
Deal Status
- Final
Deal Type
-
Acquisition
- Acquisition of Private Biotech
- Full Acquisition
- Includes Contract
- Includes Earnout
- Intra-Biotech Deal
- Payment Includes Stock
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Agenus issues $10mm in stock up front for 4-Antibody
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