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Agenus and VaxLogic, LLC Execute QS-21 Stimulon Adjuvant Licensing Agreement for Addiction, Allergy and Respiratory Vaccines

  Agenus and VaxLogic, LLC Execute QS-21 Stimulon Adjuvant Licensing Agreement
  for Addiction, Allergy and Respiratory Vaccines

Business Wire

LEXINGTON, Mass. -- September 26, 2013

Agenus Inc. (NASDAQ: AGEN) today announced that it is has entered into a
non-exclusive license agreement with  VaxLogic, LLC, a subsidiary of
PharmLogic LLC, for the use of QS-21 Stimulon^®1 adjuvant in the development
of select addiction, allergy and respiratory disease vaccine candidates.

This agreement enables VaxLogic to immediately utilize the QS-21 Stimulon
adjuvant in development for a nicotine addiction vaccine, and contemplates
expansion into the following additional vaccine indications: poison ivy,
peanut allergy, insect allergy, shellfish allergy, allergic rhinitis, and
allergic asthma. VaxLogic will develop these vaccine candidates using Agenus’
QS-21 Stimulon adjuvant and select defined antigens, with the objective of
enhancing the immune response and boosting vaccine efficacy.

These vaccine candidates are in preclinical testing and are being developed by
VaxLogic in collaboration with Cornell University. Under the terms of the
licensing agreement with VaxLogic, Agenus will receive an upfront payment and
certain milestone and royalty payments should the vaccine candidates advance
through clinical development and regulatory approval. In addition, Agenus will
receive an equity stake in VaxLogic.

“Today’s announcement broadens the potential application for our QS-21
Stimulon adjuvant, which is currently a key component of 21 development
programs across a wide variety of infectious diseases and therapeutic vaccine
candidates intended to treat cancer and degenerative disorders,” stated Garo
Armen, Ph.D., chairman and CEO of Agenus.

“Through these strong partnerships with Cornell and Agenus, VaxLogic will be
well positioned to develop novel vaccine candidates aimed at reducing chronic
and life-threatening diseases,” said Lisa Ganley-Leal, Ph.D., Managing
Director of VaxLogic. “QS-21 Stimulon adjuvant has been shown to augment
immune responses and we believe that it is a critical component for the
success of our therapeutic vaccines.”

About Agenus’ QS-21 Stimulon^® Adjuvant

Agenus’ flagship adjuvant, QS-21 Stimulon adjuvant, is a saponin extracted
from the bark of the Quillaja saponaria tree, also known as the soap bark tree
or Soapbark, an evergreen tree native to warm temperate central Chile. Agenus’
GMP QS-21 Stimulon has become a key component in the development of
investigational preventive vaccine formulations across a wide variety of
infectious diseases, and appears to be essential for several investigational
therapeutic vaccines intended to treat cancer and degenerative disorders.
QS-21 Stimulon has been widely studied and approximately 50,000 patients have
received vaccines containing the adjuvant. QS-21 Stimulon is being studied in
21 vaccine indications, which include GSK’s Phase 3 vaccine programs for RTS,S
for malaria, MAGE-A3 cancer immunotherapeutic for non-small cell lung cancer
and melanoma and HZ/su for shingles. In addition, Janssen’s QS-21 Stimulon
adjuvant-containing vaccine candidate is in Phase 2 trials for the treatment
of Alzheimer’s disease, and Agenus’ HerpV, a therapeutic vaccine for the
treatment of genital herpes, is in a Phase 2 trial. Agenus is generally
entitled to receive milestone payments as QS-21 Stimulon containing programs
advance, as well as royalties for 10 years after commercial launch, with some
exceptions.

About Agenus

Agenus Inc. is a biotechnology company working to develop treatments for
cancers and infectious diseases. The company is focused on immunotherapeutic
products based on strong platform technologies with multiple product
candidates advancing through the clinic, including several product candidates
that have advanced into late-stage clinical trials through corporate partners.
Between Agenus and its partners, 23 programs are in clinical development. For
more information, please visit www.agenusbio.com, or connect with the company
on Facebook, LinkedIn, Twitter and Google+.

About VaxLogic, LLC

VaxLogic, a subsidiary of PharmLogic LLC, supports the innovation and
development of vaccines in conjunction with Cornell University. VaxLogic works
with universities, research hospitals, laboratories and other intellectual
property developers to advance new vaccine treatments. For more information
regarding VaxLogic, LLC go to www.pharmlogic.co

1. QS-21 Stimulon^® adjuvant and the related agreements, and HerpV are assets
of Antigenics Inc., a wholly owned subsidiary of Agenus Inc.

Stimulon is a registered trademark of Agenus Inc. and its subsidiaries.

Forward-Looking Statement

This press release contains forward-looking statements, including statements
regarding the potential application of the Company’s technologies and product
candidates in the prevention and treatment of diseases and revenue streams to
Agenus in connection therewith. These forward-looking statements are subject
to risks and uncertainties that could cause actual results to differ
materially. These risks and uncertainties include, among others, the factors
described under the Risk Factors section of our Quarterly Report on Form 10-Q
filed with the Securities and Exchange Commission for the period ended June
30, 2013. Agenus cautions investors not to place considerable reliance on the
forward-looking statements contained in this release. These statements speak
only as of the date of this document, and Agenus undertakes no obligation to
update or revise the statements. All forward-looking statements are expressly
qualified in their entirety by this cautionary statement. Agenus’ business is
subject to substantial risks and uncertainties, including those identified
above. When evaluating Agenus’ business and securities, investors should give
careful consideration to these risks and uncertainties.

Contact:

Media and Investor Contact:
Agenus Inc.
Jonae R. Barnes, 617-818-2985
Vice President
Investor Relations and
Corporate Communications
jonae.barnes@agenusbio.com