Zydus arm buys 5.9% stake in US biotech Agenus

Zynext Ventures USA, the VC arm of Zydus Lifesciences, has signed a deal to acquire a 5.9% stake in Agenus Inc.

The investment will see Zynext purchase 2.13 million shares at $7.50 apiece.

Why it matters: Agenus is betting big on next-gen cancer drugs specifically Botensilimab (BOT) and Balstilimab (BAL), a powerful immunotherapy combo that’s already shown strong results across 9 cancer types in 1,200+ patients.

Zydus will bring in analytics chops, regulatory depth, and a global biotech network to the table which could help Agenus fast-track trials and expand indications.

For Zydus, it’s a strategic move to deepen its global biopharma presence and tap into high-potential cancer treatments that could reshape how solid tumors are tackled.

Zoom out: with a 2024 turnover of $103 million, Agenus is small but a serious player in the checkpoint inhibitor and cell therapy space. The deal comes as Indian pharma majors like Zydus aim to go beyond generics and become serious innovation players on the global stage.