Agenus issues initial coin offering to fund immuno-oncology drug’s development

  • Agenus issues initial coin offering to fund immuno-oncology drug’s development
    A biotechnology company is adopting a new way to finance development of its immunotherapy drug candidate: an initial coin offering.
  • Lexington, Massachusetts-based Agenus said Tuesday that it would launch in mid-February what it called the first digital security offering in healthcare, Biotech Electronic Security Token, or BEST.
  • Each token will be tied to a portion of potential future US sales of the drug, with the tokens redeemable once sales of the drug begin.
  • by announcing the first-of-its-kind, asset-backed digital security offering in healthcare, we open the doors for a transformative financing vehicle,” Agenus CEO Garo Armen said in a statement.

Read full article: medcitynews.com

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