Agenus Inc. spin-off 14.5% stake in MiNK Therapeutics, Inc. for $9.1 million.
May 30, 2023
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Agenus Inc. (NasdaqCM:AGEN) spin-off 14.5% stake in MiNK Therapeutics, Inc. (NasdaqCM:INKT) for $9.1 million on May 1, 2023. Agenus distributed a dividend of approximately 5,006,397 shares it owned in MiNK Therapeutics' common stock to shareholders who held Agenus shares as of April 17, 2023, with a ratio of 0.0146 shares of MiNK per share of Agenus. Prior to the transaction, Agenus held 21,344,685 shares of MiNK, representing 62% stake. Post transaction, Agenus hold 16,338,288 shares in MiNK, representing 47.46% stake.
Agenus Inc. (NasdaqCM:AGEN) completed the spin-off of 14.5% stake in MiNK Therapeutics, Inc. (NasdaqCM:INKT) on May 1, 2023.
MiNK Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of allogeneic invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases. iNKT cells are a distinct T cell population that combine durable memory responses with the rapid cytolytic features of natural killer cells. iNKT cells offer distinct therapeutic advantages as a platform for allogeneic therapy in that the cells naturally home to tissues, aid clearance of tumors and infected cells and suppress Graft versus Host Disease. Its platform is designed to facilitate scalable and reproducible manufacturing for off-the-shelf delivery. Its product candidate, agenT-797, is an off-the-shelf, allogeneic, native iNKT cell therapy. Its engineered programs are MiNK-413, an IL-15 armored CAR-iNKT program targeting B cell maturation antigen, and MiNK-215, an IL-15 armored tumor stromal targeting FAP-CAR-iNKT program.
MINK THERAPEUTICS, INC. 
