AGENUS INC

Agenus is a clinical-stage biotechnology company that discovers and develops immunotherapies for cancer and infectious disease. The company's main focus is immuno-oncology, where it develops antibody-based programs to activate the immune system, overcome tumor evasion, and expand the number of patients who can benefit from immunotherapy. Agenus's lead clinical program is botensilimab, both alone and in combination with balstilimab. The company also has other clinical-stage immuno-oncology assets that can be used independently or with botensilimab plus balstilimab. Agenus holds an equity investment in MiNK Therapeutics, Inc., valued at approximately $24.3 million as of December 31, 2025, and has majority ownership of a vaccine adjuvant business through its subsidiary, SaponiQx, Inc. The company uses its internal capabilities and collaborations to advance product candidates. Following a strategic realignment in December 2024, Agenus prioritized the botensilimab/balstilimab program and temporarily paused certain non-core preclinical and clinical activities while exploring partnering and funding opportunities. Agenus, in collaboration with the Canadian Cancer Trials Group, is conducting BATTMAN/CO.33, a global Phase 3 trial of botensilimab plus balstilimab versus best supportive care in refractory MSS/mismatch repair proficient colorectal cancer, with sites ready to enroll patients. At the 2025 European Society for Medical Oncology Congress, data from over 400 heavily pretreated patients across more than nine tumor types showed botensilimab plus balstilimab achieved approximately 39% two-year overall survival, including activity in colorectal, ovarian, sarcoma, PD(L)-1 refractory NSCLC, and hepatocellular cancers. Approximately 1,200 patients have been treated with botensilimab and/or balstilimab in phase 1 and phase 2 clinical trials. France's national Autorisation d'Accès Compassionnel program provides hospital-based access to botensilimab plus balstilimab for eligible patients with certain refractory cancers, with treatment reimbursed through the national health system.