Agenus Enteres Into An Asset Purchase Agreement With Zydus Pharmaceuticals, Sells Manufacturing Operations To Zydus Pharmaceuticals For Up To $125M

On June 3, 2025, Agenus Inc. (the "Company") and its wholly-owned subsidiary Agenus West, LLC ("Agenus West" and together with the Company, "Agenus") entered into an Asset Purchase Agreement (the "Purchase Agreement") with Zydus Pharmaceuticals (USA) Inc. ("Zydus"), a wholly owned subsidiary of Zydus Lifesciences Limited, for the sale to Zydus of substantially all of the assets comprising Agenus' manufacturing operations run primarily through Agenus West (the "Purchased Assets"), including without limitation real estate, equipment and certain assumed contracts.

In consideration for the sale of the Purchased Assets, Zydus will pay Agenus up to $125 million, comprised of $75 million to be paid at closing (minus any amounts used by Zydus to satisfy related indebtedness at closing) and contingent payments of up to an additional $50 million that may be earned based on usage by Agenus of Zydus' manufacturing business during the 36-month period following the closing.