Agenus Inc., an immune-oncology company developing immune checkpoint antibodies, cancer vaccines and adoptive cell therapies, achieved a cash milestone from Incyte for the initiation of a Phase I trial of INCAGN2385, an anti-LAG-3 antibody discovered by Agenus. Agenus received a $5 million payment and is eligible to receive as much as an additional $505 million in potential development, regulatory and commercial milestones from Incyte. 
 
“This is the fourth antibody from our partnered programs that has advanced into clinical trials, once again proving our commitment to deliver on our existing partnerships,” said Garo H. Armen, Ph.D., chairman and chief executive officer of Agenus. “In addition to this milestone, INCAGN2390 (anti-TIM-3) is expected to enter the clinic later this year, which would trigger an additional milestone payment to Agenus.”
 
The collaboration was initiated in January 2015, and amended in February 2017. Incyte has exclusive rights to fund and conduct global development and commercialization of four disclosed antibody candidates, LAG-3, TIM-3, GITR and OX40, and one undisclosed candidate discovered through the Agenus and Incyte collaboration, for which Agenus is eligible to receive milestone and royalty payments.