Date: 2015-11-05
Type of information: Plant acquisition
Compound: antibody pilot plant manufacturing facilities
Company: Xoma (USA - CA) Agenus (USA - MA)
Therapeutic area: Technology - Services
Type agreement: plant acquisition
Action mechanism:
Disease:
Details: * On November 5, 2015, Xoma announced it has agreed to sell its antibody pilot plant manufacturing facilities, equipment, and associated real estate to Agenus. The transaction is expected to close in December 2015. In conjunction with the transaction, Agenus will offer employment to a select team of Xoma employees currently operating the facilities and may provide small-scale manufacturing services for Xoma in the future. The acquisition of this facility will enable Agenus to manufacture checkpoint modulator (CPM) antibodies to meet its growing GMP antibody production requirements for development and future clinical trials. Agenus will offer employment to experienced XOMA professionals currently operating the facility. The transaction is expected to close in December, subject to customary closing conditions. Agenus will use its newly acquired capabilities to accelerate the development of its portfolio of CPM candidates for its own programs and those of potential collaborators.
Financial terms: Under the terms of the agreement, Agenus will pay approximately $5.0 million in cash up-front and $1.0 million in common stock. In addition to the biologics manufacturing facility and a team of employees associated with the program, Agenus will also gain access to selected antibody technologies.
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