Lexington, MA and Moscow, Russia, December 19, 2011 – Agenus Inc. (Nasdaq: AGEN), a biotechnology company working to develop treatments for cancers and infectious diseases, and NewVac LLC (a subsidiary of ChemRar High Tech Center and resident of the Skolkovo Innovation Center in Russia), a company focused on the development of innovative technology for cancer immunotherapy, announced today that they have entered into a license, development and manufacturing technology transfer agreement for Agenus’ Oncophage^® (HSPPC-96; vitespen) vaccine.  Oncophage is approved in Russia for the treatment of renal cell carcinoma (“RCC”; kidney cancer) in patients at intermediate risk of recurrence.

Under the agreement, Agenus has granted NewVac an exclusive license to manufacture, market and sell Oncophage as well as pursue a development program of Oncophage in combination with NewVac’s co-adjuvant technology in the Russian Federation and CIS countries.  Agenus is entitled to receive a transfer price and/or royalties upon Oncophage product sales, and potential milestone payments.

“We are very excited to work with NewVac as an innovative scientific partner that is ready to both establish an Oncophage manufacturing facility in Russia and to commercialize this unique personalized cancer vaccine.  In addition, the planned development efforts for Oncophage in combination with NewVac’s co-adjuvant will provide us with an opportunity to explore how Oncophage can contribute even more to patient care.” said Garo H. Armen, Ph.D., Chairman and CEO of Agenus Inc. “This agreement brings us a step closer to making this product available to patients and driving further innovation in the cancer immunotherapy field.”

Nikolay Savchuk, Chairman of the Board of NewVac noted: “Our goal is to create an innovative world-class biomedical platform for the treatment of oncologic diseases based on immunotherapeutic approaches in Russia.  We analyzed all available types of cancer immunotherapies from the Russian and global markets and selected the Agenus technology to advance our development programs.  NewVac has established clinical studies of a co-adjuvant small molecule to be used in combination with immunotherapeutic tumor vaccines. We are honored to commit our research platform to such a noble cause and we plan to conduct clinical studies in combination with Oncophage in Russia in 2012. We are glad that Agenus’ R&D team, who developed this breakthrough technology, is so committed to this collaboration.  NewVac plans to establish GMP manufacturing for Oncophage in Russia, making it more easily accessible to Russian patients.”

The NewVac project was launched under the auspices of Skolkovo. The Skolkovo innovation center is a high technology business area that will host five scientific communities that carry top priority for Russia — energy, information technology, telecommunications, biomedicine and nuclear technologies.  Skolkovo’s status makes it possible to invite top research centers to collaborate with the Russian scientific community and innovative businesses in order to integrate the most recent advances in molecular biology, immunology and pharmaceutics under the aegis of the Russian company.

About Renal Cell Carcinoma, a Deadly Disease Upon Recurrence

Renal cell carcinoma is the most common type of kidney cancer accounting for almost 90 percent of all kidney tumors. By the time RCC is diagnosed, about one third of patients will have developed metastatic disease. In addition, RCC recurs in 20-40% of patients with localized tumors.

The most recent data published by the International Agency for Research on Cancer estimated that there were approximately 16,329 new cases of kidney cancer in Russia in 2004, and about 10,872 people died from the disease. Despite earlier detection, patients with locally advanced disease face a poor prognosis, with a 5-year survival rate of approximately 50 percent due to tumor recurrence. Currently, no approved therapies exist in the EU for use in localized disease.

About Oncophage

In April 2008, Oncophage was approved in Russia for the adjuvant treatment of kidney cancer patients at intermediate risk for disease recurrence. Derived from each individual’s tumor, Oncophage contains the ‘antigenic fingerprint’ of the patient’s particular cancer and is designed to reprogram the body’s immune system to target only cancer cells bearing this fingerprint. Oncophage is intended to leave healthy tissue unaffected and limit the debilitating side effects typically associated with traditional cancer treatments such as chemotherapy and radiation therapy.

Nearly 800 patients in clinical trials throughout Russia, North America and Europe have been treated with Oncophage produced in Agenus’ facility located in Lexington, Massachusetts. Studies with Oncophage have demonstrated efficacy signals in multiple cancers, including melanoma, glioma, colorectal, pancreatic, renal cell carcinoma, gastric cancer and non-Hodgkins lymphoma.

Oncophage has been studied in Phase 3 clinical trials for the treatment of kidney cancer and metastatic melanoma and is currently being investigated in a Phase 2 trial in recurrent and newly diagnosed glioma. In April 2009, the World Vaccine Congress named Oncophage as the best therapeutic vaccine. Oncophage is approved for sale in Russia for the adjuvant treatment of kidney cancer patients at intermediate-risk for disease recurrence.

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, 18 programs are in clinical development. For more information, please visit www.agenusbio.com.

Contact:

Media and Investors:

Jonae R. Barnes

Vice President

Investor Relations &

Corporate Communications

617-818-2985

About NewVac LLC

NewVac LLC is a subsidiary of ChemRar High Tech Center, the top Russian non-governmental research and development center for life sciences. NewVac’s major objective is integration of pre-clinical and clinical findings in order to design effective business models for commercialization of knowledge obtained both in Russia and abroad.

In December 2010, NewVac LLC became one of the first resident companies of the Skolkovo Innovation Center, in the Moscow Region. The vision of the Skolkovo Innovation Center is to become the principal Russian center for integrated economic and technological innovation. In the specially designated Skolkovo Center territory, streamlined conditions will be created for innovative R&D within the strategic sectors of alternative energy, energy efficiency, nuclear, space, biomedical and computer sciences.

Contact:

NewVac LLC

Director General

Sergey Bugrov

E-mail: sb@newvac.ru

Tel: +7 (495) 925 3074
Fax: +7 (495) 626 9780
www.newvac.ru

Forward-Looking Statement                                                                                        

This press release contains forward-looking statements, including statements regarding development and commercialization activities of Agenus and its licensee, NewVac, and the potential benefits to the company and cancer patients from such activities. 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 September 30, 2011. 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.

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

Time: 2:30PM – 5:30PM

In one of history’s most difficult financial environments, early-stage companies seeking funding must look at diverse ways of obtaining it. Jeff Stein, President & Chief Executive Officer of TRIUS Therapeutics, will provide a special case study that examines the series of financing mechanisms used to build Trius from its inception 2007 to the public company that it is today. In what promises to be an informative and compelling talk, Stein will examine Trius’ stages of growth—from SBIR and angel investment, to venture capital, to large federal grant funding and a public/private partnership with Scripps Institution of Oceanography, to an initial public offering and finally, a recent big pharma partnership.

Nikolay Savchuk, Managing Director at Torrey Pines Investment (TPI), a San Diego based venture company, will highlight the innovative aspects of TPI investment model. During his talk, Savchuk will discuss several case studies from company’s investment portfolio, such as an innovative deal structure with orphan drug discovery company Afraxis which allowed the San Diego start-up to advance its primary program and expand with adding an extra platform while operating in a super-efficient, semi-virtual model. Far from home TPI advised on creating of an innovative oncoimmunology company NewVac, with support of a large Skolkovo foundation grant (backed by the government) and further advanced on licensing of personalized oncovaccines to sell on the emerging markets. TPI also processed deal with Hoffman La Roche which enabled creation of a pioneering tech transfer business model and specialty pharma in HIV products. Savchuk’s talk could be instructive in promoting international cooperation, access to capital and emerging markets for SoCal companies and research groups.

WHO SHOULD ATTEND
This Financial Forum is designed for entrepreneurs, start-up companies, and independent researchers developing innovative technologies; investors interested in pursuing alternative financing for portfolio companies; university researchers and technology transfer professionals; CEOs and CFOs of existing companies; and service providers engaged in the emerging technology/life sciences community.

AGENDA
2:30pm Registration/Networking
3:00pm Welcome Remarks

• Louis Coffman, Vice President, Sanford Consortium for Regenerative Medicine
• Julia Brown, UC San Diego Board of Trustees

3:10pm Innovative Financing Models for Early-Stage Companies

• TRIUS Therapeutics Case Study
  Jeff Stein, President & CEO, TRIUS Therapeutics
• Torrey Pines Investment Case Study & Other Success Stories
  Nikolay Savchuk, Managing Director, Torrey Pines Investment

4:00pm Moderated Q&A Discussion
4:30pm Networking Reception
5:30pmProgram Concludes

ABOUT THE SPEAKERS
Jeff Stein
President & Chief Executive Officer, Trius Therapeutics
Jeff Stein has served as President and Chief Executive Officer of Trius Therapeutics since February 2007, and on its board of directors since 2005. From 2005 through 2007, Dr. Stein was a Kauffman Fellow with the venture capital firm Sofinnova Ventures. He has also served as a Venture Partner with Sofinnova Ventures from 2007 until 2010 and as Director of Venture Development for the UC San Diego from 2005 to 2006. From 1999 to 2005, Dr. Stein served as Executive Vice President, Chief Scientific Officer and a member of the board of directors of Quorex Pharmaceuticals, an anti-infectives company he founded in 1999, which was acquired by Pfizer in 2005. From 1995 to 1999, Dr. Stein was a scientist with Diversa Corporation where he most recently served as Principal Scientist and head of the anti-infectives discovery team. From 1993 to 1995, Dr. Stein served as Principal Scientist with the Agouron Institute, a private research institution, where he conducted research in bacterial genetics. From 1991 to 1993, he was an Alexander Hollaendar Distinguished Postdoctoral Fellow with the California Institute of Technology. Dr. Stein holds a Ph.D. in biochemistry and microbiology from UC San Diego.

Nikolay Savchuk
Managing Director, Torrey Pines Investment
Nikolay Savchuk is Managing Director at Torrey Pines Investment (TPI); Chairman of Viriom Ltd., NewVac Ltd., TeaRx Ltd. and Chemical Diversity Research Institute in Moscow, Russia; and serves on the board of ChemRar Hi Tech Center in Moscow, Russia. He has been leading the TPI investment team since 2002. Savchuk is a founder of the Inel Group of IT and media companies in Singapore and Russia, and was an industry representative to the Russian government’s Pharma 2020 initiative. Nikolay is an advisor and expert of the Agency Of Strategic Initiatives of the Russian government. He holds a Ph.D. in Mathematics from the Moscow Institute of Physics and Technology.

QUESTIONS?
Please contact Taylor Peterson at (858) 964-1341
or tpeterson@connect.org

Afraxis’ small-molecule development candidates for Fragile X syndrome created in the work by ChemDiv Inc. will be further developed as part of the National Institutes of Health’s (NIH) Therapeutics for Rare and Neglected Disease (TRND) Program.

Ronald Demuth, President of Torrey Pines Investment commented “We are pleased that, as fully expected, ChemDiv successfully leveraged its expertise in a broad spectrum of integrated R&D services in the Afraxis collaboration.  We are equally pleased to welcome Afraxis to our portfolio of investee companies, as this organization has clearly demonstrated exceptional competence and experience in its efforts to mitigate the effects of Fragile X Syndrome and develop potential treatments for this genetic condition”.

About Torrey Pines Investment: Torrey Pines Investment is a specialty life-science investment company located in San Diego. Torrey Pines Investment actively scouts and seeks to invest in programs that promise to be first-in-class and/or best-in-class, with clearly defined development plans and commitment to virtual and lean R&D models leveraged by its embedded CRO network leading to flexible exit structures that optimize its risk-return profile.

About ChemDiv: ChemDiv (www.chemdiv.com) collaborates with pharmaceutical and biotech partners by enabling them to accelerate their R&D programs to higher value clinical inflection points. ChemDiv is a vertically and horizontally integrated discovery and development CRO headquartered in San Diego, CA, with rational drug design and medicinal chemistry in a broad range of therapeutic areas and target classes; world’s largest small molecule inventory; and serving the top tier of 20 Pharma and 100 Biotech companies in all major markets  With a 20 years record of success in life science R&D and over 500 research associates across its global organization, ChemDiv has successfully prosecuted fully integrated programs from target to Proof of Concept (POC) and market registration.

ChemDiv Research Institute (CDRI) at the ChemRar Hi-Tech Centre announced that it has signed collaboration and license option agreement with the Singapore based Novartis Institute for Tropical Diseases (NITD) to undertake discovery and development of patentable chemical compounds to find new, faster cures for Tuberculosis.

Tuberculosis (TB) is a major health problem in the world today, responsible for nearly 2 million deaths per year. One third of the world’s population are infected with latent TB, and ~5-10% of infected individuals may develop active TB within their lifetime. Current treatment of TB takes more than half a year, much longer than treatment for other infectious diseases. Emergence of multi drug resistant tuberculosis and TB co-infection with HIV are escalating the need for finding new drugs for curing the TB.

CDRI has prepared and delivered to NITD a focused library consisting of thousands of compounds that will be screened in a cell-based assay to identify lead molecules that are active against the mycobacterium.

Under the agreement ChemRar has the right to market such drugs through its affiliate Silvius Pharma in Russia and other countries in the region, whereas Novartis has the right to market them in Asia, Sub-Saharan Africa and other countries.

Nikolay Savchuk, Chairman of the Board of CDRI noted: “We are honored to commit our research platforms and significant experience in novel anti-infective drug discovery to such a noble cause. We are delighted to participate in an innovative Public Private Partnership, endorsed by the governments of Singapore and Russia, to work on their national priorities to aid the world in the battle against Tuberculosis. Our chemical expertise combined with Novartis commitment to discovering and developing medicines for diseases of the developing world creates unique synergy that will help patients around the globe.”

The collaboration was initiated with a Memorandum signed in September 2010, during a visit of a Russian government delegation to Singapore. It is endorsed and supported by Novartis, and is expected to be supported in Russia by the Ministry of Industry and Trade, and the Ministry of Health and Social development.
About ChemDiv Research Institute:

ChemDiv Research Institute (CDRI) is a fully integrated discovery and development Contract Research Organization (CRO), subsidiary of ChemDiv, Inc of San Diego CA, established at ChemRar High Tech Center in Khimki Moscow with subsidiaries in Russia and Ukraine, business and logistics operations around the world.  CDRI collaborates with pharmaceutical and biotech partners by enabling them to accelerate R&D programs to higher value clinical inflection points. One of the industry’s most established CROs, ChemDiv offers Integrated Discovery outsource solutions that cover a complete range of disciplines needed to bring a new project in CNS, oncology, inflammation, metabolic, infectious and other diseases from identification of a biological target (protein expression, assay development etc.) to clinical drug candidates (ADME/DMPK, toxicity and safety studies, efficacy models etc.) to Proof of Concept drug candidate (Phase I and II) and to the market. With successful 20 years business record in life sciences and over 500 research associates, we put forward unique translational capabilities from Research to Clinical Development.

Contacts for media:

Henrik Konarkowski

CDRI

Email: hk@chemdiv.com
Phone: +7-495-995-4944

 Attendees:

Nikolay Savchuk, Managing Partner  nsavhuk@torreypinesinv.com

If you would like to set up a meeting, please contact us at deals@torreypinesinv.com

If you would like to set up a meeting, please contact us at deals@torreypinesinv.com

More information about Russia Business and Ivestment Summit http://irtinc.org/nyse_rbis.aspx

NPO ChemRar High-Tech Center and Janssen Pharmaceutica NV plan to cooperate with Russian leading R&D centers and academic institutions to identify and select for funding initiatives in the biotechnology and medical device sectors, which may be transformed into startup companies with promising commercial prospects. ChemRar High-Tech and Janssen Pharmaceutica NV Center have outlined their desire to explore providing venture funding to Russian start-ups companies. These strart-ups may seek support of Skolkovo foundation and other interested parties. The main task is to stimulate the innovation process in R&D while preparing Russian companies to thrive in a highly competitive global biotechnology and medical device market.

As it was communicated in a joint press statement with Skolkovo Foundation distributed on Friday at the International Economic Forum in Saint-Petersburg by Naira Adamian, Head of Representation of Janssen Pharmaceutica NV in Russia, this proposed involvement will seek to contribute to the modernization of the Russian biotechnology and medical device industries and the making of innovative medicines and other health care product offerings more accessible for Russian patients.

The signed document also identifies other areas of potential collaboration: namely a collaboration to train a new Good Laboratory Practice (“GLP”), accredited toxicology facility, a discovery collaboration and a co-development of Janssen assets.

According to Andrey Ivashchenko, Chairman of the Board of Directors, ChemRar High-Tech Center: “The key outcome of the potential collaboration between our companies will be broader accessibility of innovative medicines, developed under the cooperation of Russian and foreign scientists, for Russian patients. This is in line with goals and objectives of the State strategy on modernization of pharmaceutical and healthcare industry of the Russian Federation till 2020. Despite of the fact that the creation and commercialization of any innovation drug is a complicated and long-term process, this task seems to be quite feasible, taking into account that the specialists from ChemRar organizations have twenty-year international experience and the most modern research methods. I would like to emphasize that we are sincerely delighted that our close partnership with Johnson&Johnson on contract research becomes extended and acquires new forms including establishment of joint venture capital with risk and market sharing models. Janssen is a worldwide company with impeccable international reputation and rich experience. Russia critically needs exactly this kind of investors who come with so-called “smart money” and help to complete establishment of innovation infrastructure in Russian Federation in accordance with international standards, therethrough ensuring the future competitiveness of joint developments at the global level. ”

Specific details on the activities described above will be communicated as far as projects will be developed.

About ChemRar High-Tech center

Non-commercial partnership ChemRar High Technology Center is a unique complex of research, production and investment facilities operating in the fields of development and commercialization of innovative medicines for treatment of cardiovascular diseases, endocrinology, infectious diseases, oncology, and CNS diseases both in Russia and abroad.

ChemRar Ventures is a Russian venture company managing the diversified portfolio of investments into innovative biotechnological and biopharmaceutical companies.  www.chemrar.ru

Contacts for media:

ChemRar HTC
Irina Tyrnova
it@chemdiv.com
+7 (985) 776 12 40

Phase I clinical studies, conducted by Viriom in the Research Center for Preventive Medicines in Moscow, confirmed that the oral drug, VM-1500, was safe and well-tolerated, no serious adverse effects were observed. The results of the Phase I study allow the company to advance to the clinical efficacy studies on HIV-infected patients. Viriom is also developing a topical gel formulation for VM-1500, to lower the incidence of sexually-transmitted HIV.

Moscow,  Russia  – June 21, 2011 – Viriom, biotech company established in ChemRar High Tech Center, Khimki, Moscow Russia, announced today a successful completion of  phase one clinical trials in development of novel NNRTI treatment for  HIV.

Phase I clinical studies, conducted by Viriom in the Research Center for Preventive Medicines in Moscow, confirmed that the oral drug, VM-1500, was safe and well-tolerated, no serious adverse effects were observed. The results of the Phase I study allow the company to advance to the clinical efficacy studies on HIV-infected patients. Viriom is also developing a topical gel formulation for VM-1500, to lower the incidence of sexually-transmitted HIV.
“We are very pleased with the results of the clinical studies to date”, said Dr. Vadim Bichko, ChemDiv’s VP and Head, Infectious Diseases, who leads the HIV program for Viriom in San Diego and Moscow. “Besides good safety and tolerability, VM-1500 had shown unique pharmacokinetic properties in humans, and has a potential of becoming the best drug in its class. If the topical gel formulation proves effective, VM-1500 will help to curb AIDS epidemic in developing countries in Africa and around the globe.”
Viriom is supported by the Presidential Commission for Modernization of the Russian Federation to aid second round of its financing for completing development, registration and manufacturing of novel antivirals in Russia and other countries.
“The continuing support of the Commission allows us to build on success of our early development program, expanding to additional indications with broad clinical impact for HIV treatment and prevention”, said Dr. Irina Tyrnova, Viriom’s Chief Executive Officer. “We are very appreciative of the Russian government’s attention to developing innovative medicines for   HIV.”

About Viriom:
Viriom Ltd is an innovative company established in 2009 at ChemRar High Tech Center in Moscow, Russia discovering, partnering and developing novel  targeted medicines for HIV/AIDS treatment.  Viriom has licensed from Roche novel NNRTI drugs for development and commercialization.
www.viriom.com

Media Contact:
Irina Tyrnova
CEO, Viriom LLC
it@viriom.com