Zydus Lifesciences Ltd (BOM:532321, NSE:ZYDUSLIFE) wholly owned subsidiary, Zynext Ventures USA LLC, acquired a 5.9% stake in US-based immuno-oncology company Agenus Inc, according to a Tuesday filing on the local bourse.
The purchase of 2.13 million shares cost approximately $16 million at $7.50 per share.
Agenus develops next-generation immunotherapies, including Botensilimab and Balstilimab, which are in advanced clinical trials for multiple cancer types. The investment aims to accelerate these programmes and expand their application in earlier treatment stages.
The deal is subject to regulatory approvals, including those under US antitrust and foreign investment laws. Zynext Ventures plans to complete the acquisition within 60 days, with a possible 30-day extension.
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