Zydus said the acquisition, through a subsidiary, will provide access to advanced biologics manufacturing capabilities and establish a key presence in the leading global biotechnology hub of California.
Zydus Lifesciences plans to acquire Nasdaq-listed clinical-stage immuno-oncology firm Agenus’s two biologics manufacturing facilities in California, U.S. for $125 million to enter the global biologics contract development and manufacturing organization (CDMO) business.
The move enables it to leverage supply chain dynamics and a favourable geopolitical environment to expand reach in the U.S. and globally.
The facilities in Emeryville and Berkeley will be acquired for an upfront consideration of $75 million and contingent payment of $50 million, to be paid over three years subject to achievement of certain revenue milestone. Zydus said the acquisition, through a subsidiary, will provide access to advanced biologics manufacturing capabilities and establish a key presence in the leading global biotechnology hub of California.
Also as a part of the transaction Zydus will become an exclusive contract manufacturer for Agenus and provide manufacturing services for clinical and commercial supply of two identified Phase-3 ready immuno-oncology products, Botensilimab (BOT) and Balstilimab (BAL).
Zydus will also have first right of negotiation to manufacture any of the future pipeline products developed by Agenus.
