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Renowned GI Oncology Leader Dr. Richard Goldberg Joins Agenus as Chief Development Officer

1. Dr. Richard Goldberg joins Agenus as Chief Development Officer, enhancing expertise. 2. Goldberg to advance botensilimab/balstilimab programs, focusing on regulatory strategy. 3. Achievement in GI cancer treatment highlighted; potential for FDA approval seen. 4. Goldberg believes BOT/BAL can significantly impact colorectal cancer outcomes. 5. His experience could expedite clinical development and improve treatment options.

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Why Bullish?

Dr. Goldberg's expertise and focus on promising therapies may enhance investor confidence and ultimately drive stock price up, similar to when other biotech companies made impactful executive hires.

How important is it?

Dr. Goldberg's appointment is noteworthy given his experience and the focus on key therapies that directly relate to Agenus' future growth potential.

Why Long Term?

Strategic leadership in drug development can take time to yield significant results, as seen with long-term projects in biotech that shape market perception over months or years.

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LEXINGTON, Mass.--(BUSINESS WIRE)--Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation today announced that Dr. Richard M. Goldberg, an internationally recognized expert in gastrointestinal (GI) cancer treatment and research, has joined the company as Chief Development Officer. In this role, Dr. Goldberg will lead efforts to advance the botensilimab/balstilimab (BOT/BAL) program for patients and guide the company’s regulatory and development strategy as it prepares to re-engage global health authorities."As a consultant, I recognized what Agenus is achieving with botensilimab and balstilimab. This innovative combination is among the most promising approaches on the horizon..."Share Dr. Goldberg's distinguished career spans over four decades, during which he has made significant contributions to oncology through clinical practice, research, and leadership.​ “Five years ago, I stepped away from formal cancer center leadership roles in academic oncology and from clinical practice. That afforded me time to apply my skills differently by advising companies developing new drugs and technologies for treating GI cancers and particularly colorectal cancer. I also used this opportunity to become even more actively engaged in patient advocacy. Despite incremental treatment advances, patients, and their family members, clamor daily for new and better treatments. They want more time, better time, and ultimately curative interventions where no cure is possible today. This unmet need is particularly hard felt among those with MSS colorectal cancer where the treatment benefits for immuno-oncology interventions largely remain to be realized,” said Dr. Richard Goldberg. Goldberg continues, “As a consultant, I recognized what Agenus is achieving with botensilimab and balstilimab. This innovative combination is among the most promising approaches on the horizon. The opportunity to move these investigational agents forward to gain FDA approval and allow oncologists to integrate them into our treatment armamentarium as soon as possible compels me to recommit myself fully to the workplace. I believe these two agents can and will change outcomes for patients with colorectal cancer and, beyond that, will prove to be important tools across a broad spectrum of solid tumors.” Throughout his career, Dr. Goldberg has held several prominent positions, including:​ Director of the West Virginia University Cancer Institute (WVUCI): From 2017 until his retirement in January 2020, Dr. Goldberg led WVUCI, overseeing its clinical, research, and teaching missions. ​ Physician-in-Chief at The Ohio State University’s James Cancer Hospital: Prior to his tenure at WVUCI, he served as Physician-in-Chief and Associate Director of Outreach for The Ohio State University Comprehensive Cancer Center – James Cancer Hospital and Solove Research Institute. ​ Physician-in-Chief at the North Carolina Cancer Hospital: At the University of North Carolina in Chapel Hill, Dr. Goldberg was Physician-in-Chief and Associate Director at the UNC Lineberger Comprehensive Cancer Center. ​ Dr. Goldberg's research has been pivotal in advancing GI oncology, with a focus on developing new treatments, understanding inherited cancer susceptibility, and identifying predictive and prognostic factors in GI cancers. He has authored over 430 peer-reviewed publications, underscoring his commitment to scientific advancement. 1​ In recognition of his expertise, Dr. Goldberg has been listed in The Best Doctors in America and has received numerous accolades, including the American Society of Clinical Oncology (ASCO) Statesman Award multiple Advocacy awards and being designated as a Fellow of both ASCO and the American College of Physicians.1 Even after his retirement, Dr. Goldberg continued to contribute to the field as a medical consultant, engaging with both start-up and established pharmaceutical companies on drug development in gastrointestinal cancers. He also remains the Associate Group Chair of the NCI funded clinical trials group the Alliance. “Dr. Goldberg’s appointment as Chief Development Officer brings unparalleled expertise in gastrointestinal oncology and a lifelong commitment to advancing patient care that align directly with our mission. As we work to bring BOT/BAL to patients in need, his strategic guidance will be instrumental in navigating the clinical and developmental complexities ahead.”—Garo Armen Ph.D., Chief Executive Officer, Agenus About Agenus Agenus is a leading immuno-oncology company targeting cancer with a comprehensive pipeline of immunological agents. The company was founded in 1994 with a mission to expand patient populations benefiting from cancer immunotherapy through combination approaches, using a broad repertoire of antibody therapeutics, adoptive cell therapies (through MiNK Therapeutics) and adjuvants (through SaponiQx). Agenus has robust end-to-end development capabilities, across commercial and clinical cGMP manufacturing facilities, research and discovery, and a global clinical operations footprint. Agenus is headquartered in Lexington, MA. For more information, visit www.agenusbio.com or @agenus_bio. Information that may be important to investors will be routinely posted on our website and social media channels. About Botensilimab (BOT) Botensilimab (BOT) is a human Fc enhanced CTLA-4 blocking antibody designed to boost both innate and adaptive anti-tumor immune responses. Its novel design leverages mechanisms of action to extend immunotherapy benefits to “cold” tumors which generally respond poorly to standard of care or are refractory to conventional PD-1/CTLA-4 therapies and investigational therapies. Botensilimab augments immune responses across a wide range of tumor types by priming and activating T cells, downregulating intratumoral regulatory T cells, activating myeloid cells and inducing long-term memory responses. Approximately 1,100 patients have been treated with botensilimab and/or balstilimab in phase 1 and phase 2 clinical trials. Botensilimab alone, or in combination with Agenus’ investigational PD-1 antibody, balstilimab, has shown clinical responses across nine metastatic, late-line cancers. For more information about botensilimab trials, visit www.clinicaltrials.gov. About Balstilimab (BAL) Balstilimab is a novel, fully human monoclonal immunoglobulin G4 (IgG4) designed to block PD-1 (programmed cell death protein 1) from interacting with its ligands PD-L1 and PD-L2. It has been evaluated in >900 patients to date and has demonstrated clinical activity and a favorable tolerability profile in several tumor types. Forward-Looking Statements This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding its botensilimab and balstilimab programs, expected regulatory timelines and filings, and any other statements containing the words "may," "believes," "expects," "anticipates," "hopes," "intends," "plans," "forecasts," "estimates," "will," “establish,” “potential,” “superiority,” “best in class,” and similar expressions are intended to identify forward-looking statements. 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 most recent Annual Report on Form 10-K for 2024, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. 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 statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Inducement Grant Disclosure In connection with Dr. Goldberg’s appointment as Chief Development Officer, the Compensation Committee of Agenus’ Board of Directors approved the grant of an inducement equity award under the company’s 2015 Inducement Equity Plan and pursuant to Nasdaq Listing Rule 5635(c)(4). The award to Dr. Goldberg consists of options to purchase 50,000 shares of Agenus common stock, with an exercise price equal to the closing price of Agenus common stock on the grant date, May 12, 2025. The options have a 10-year term and vest immediately. 1 https://directory.hsc.wvu.edu/Profile/47564 More News From Agenus Inc.

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