Immuno-oncology company Agenus Inc (NASDAQ:AGEN) said on Tuesday that it will receive USD15.1m in milestone payment based on net sales of Shingrix vaccine.
Under a prior agreement, Agenus has triggered a USD15.1m milestone payment from HealthCare Royalty Partners (HCR) based on net sales of GlaxoSmithKline's (GSK's) Shingrix vaccine exceeding USD2.0bn in 2019.
According to Agenus, its proprietary QS-21 Stimulon is one of the most potent adjuvants known and is a key component in GSK's Shingrix vaccine, which has generated blockbuster sales exceeding USD2.3bn in its second year after launch.
Agenus also expects an additional milestone payment, valued at USD25.5m, if Shingrix net sales exceed USD2.75bn over four consecutive quarters before 2026.
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