Agenus Prices Public Offering of Common Stock

  Agenus Prices Public Offering of Common Stock

Business Wire

LEXINGTON, Mass. -- February 5, 2014

Agenus Inc. (Nasdaq: AGEN) today announced the pricing of an underwritten
public offering of 19,335,653 primary shares of its common stock at a price of
$2.70 per share. Agenus has granted the underwriters a 30-day option to
purchase up to 2,900,347 additional shares of common stock to cover
over-allotments, if any.

William Blair & Company, L.L.C. is acting as sole book-running manager for the
offering. Maxim Group LLC is acting as lead manager and H.C. Wainwright & Co.,
LLC and MLV & Co. LLC are acting as co-managers for the offering. Geller
Biopharm Inc. is acting as financial advisor for the offering.

The shares will be issued by Agenus pursuant to a shelf registration statement
that was previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A preliminary prospectus supplement related to the
offering has been filed with the SEC and is available on the SEC's website
located at A final prospectus supplement related to the offering
will be filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction. Any offer, if at all, will be made only by means of a
prospectus supplement and accompanying prospectus forming a part of the
effective registration statement, copies of which may be obtained, when
available, from William Blair & Company, L.L.C., Attention: Prospectus
Department, 222 West Adams Street, Chicago, IL 60606, by telephone at (800)
621-0687, or by e-mail at

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.

Additional Information

Statements made in this press release include forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, regarding,
but not limited to, the use of proceeds from the offering. Forward-looking
statements can be identified by the use of words such as “may,” “will,”
“plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are inherently subject
to certain risks, trends and uncertainties, many of which Agenus cannot
predict with accuracy and some of which Agenus might not even anticipate, and
involve factors that may cause actual results to differ materially from those
projected or suggested. These risks and uncertainties include, among others,
the factors described under the Risk Factors section of Agenus’ Current Report
on Form 8-K, which was filed with the SEC on February 4, 2014. 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
press release, and Agenus undertakes no obligation to update or revise the


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