Agenus 8K Regulation FD Disclosure | AGEN 9 Mar 11

Corporate Presentation

March 2011

Exhibit 99.1

Forward-Looking Statement

This presentation contains forward-looking statements including statements regarding the

company’s lead product candidates Oncophage

, Prophage Series, formerly known as

Oncophage, (vitespen; formerly HSPPC-96), QS-21 Stimulon

and HerpV, formerly AG-707,

(including, but not limited to, the timing of product development, launch and product revenues),

the successful development of the Company’s products by collaborative partners, the

company’s clinical trials (including, but not limited to, trial initiation, enrollment, completion,

analysis and interpretation of results), the confirmation of Oncophage subgroup analyses, the

regulatory approval process (including, but not limited to, dates and locations of filings),

research programs and other future events and operations. These forward-looking statements

involve uncertainties and risks that are described under Risk Factors of the Company’s Form

10-Q as filed with the Securities and Exchange Commission for the period ended September 30,

2010. Actual

results could differ materially from these forward-looking statements.

A New Name

•

Our pipeline has moved beyond autologous

antigen-based technologies

•

Our strategy focuses advancing our platform

technologies through collaboration

•

www.agenusbio.com

Agenus Investment Highlights

•

QS-21

vaccine

adjuvant:

Royalty

potential

2013-2014

•

Oncophage®

•

Prophage Series of therapeutic cancer vaccines advancing in

clinic

•

HerpV in genital herpes

Product and Clinical Pipeline

Product

Indication

Phase 1

Phase 2

Phase 3

Market

Oncophage for Renal Cell Carcinoma

in Russia

Prophage for Glioma (recurrent)

Prophage for Glioma (newly diagnosed)

QS-21 in Non-Small Cell Lung Cancer

QS-21 in Melanoma

QS-21 in Malaria

QS-21 in Shingles

partnered with GSK

QS-21 in Alzheimer’s Disease

QS-21 in multiple undisclosed vaccines

partnered with Janssen

HerpV for Genital Herpes

QS-21: Maturing Pipeline, Addressing

10B+ Market

•

Clinical indications under

investigation (global incidence)

–

NSCLC (lung: 1.5m)*

–

Alzheimer's disease (prevalence:

26.6m)**

–

Malaria (250m)**

–

HIV (2.6m)**

–

AML (leukemias: 331k)*

–

Tuberculosis (9.3m)**

–

Varicella-zoster (US: 1m)***

–

Prostate cancer (783k)*

–

Breast cancer (1.3m)*

–

Melanoma (132k)****

Total

Vaccines

Clinical

Phase 3

QS-21 Pipeline

*ACS Global Cancer Facts & Figures 2007

**Wikipedia

***NIAID

****WHO

QS-21: Significant Clinical Progress

•

GlaxoSmithKline

–

Phase 3 NSCLC study launched in 2007 (MAGE-A3)

•

Phase 3 (n=2,270) ongoing; largest trial conducted in NSCLC

•

Phase 2b (n=180): 25% reduction in recurrence vs. placebo

–

Phase 3 melanoma study launched Dec. 2008 (MAGE-A3)

•

Phase 3: n=1,300

–

Phase 3 malaria study launched March 2009

•

Phase 3: n=16,000, last patient expected to be dosed Feb. 2011

•

Phase 2: 53% reduction in clinical episodes of malaria

–

Phase 3 shingles study launched in 2010

•

Two Phase 3 studies, n=15,000 per study

–

GSK/Abbott MAGE-A3 diagnostic agreement

•

JANSSEN(J&J)/Pfizer

–

Phase 2 Alzheimer’s disease study launched in 2007

–

Janssen/GE collaboration to identify early markers of Alzheimer’s

The PROPHAGE Series of Cancer Vaccines

PROPHAGE Series: 1

Approved

Cancer Vaccine

•

Patient-specific HSP-based therapeutic cancer vaccine

•

Theoretically applicable to almost any cancer

•

>850 patients worldwide safely treated in 8 cancers

•

Simple out-patient injection

•

Manufactured in less than 10 hours

•

Phase 3 adjuvant RCC data has strengthened over time

PROPHAGE Series Clinical Overview

•

Signals of clinical activity observed in 8 cancers (US incidence)*

–

Kidney (58,240)

–

Melanoma (68,130)

–

Brain (22,020)

–

Colorectal (142,570)

–

Lung (222,520)**

–

Pancreatic (43,140)

–

Gastric (21,000)

–

Non-Hodgkin’s lymphoma (65,540)

•

Efficacy signals include tumor-specific and innate immune

responses, tumor responses, RFS, PFS, OS across tumor types

•

Efficacy appears most pronounced in earlier-stage patients

•

Combination trials allow for more advanced disease

•

Well tolerated; low toxicity profile

*ACS Cancer Facts Figures 2010

**Manufacturing feasibility only

Oncophage®

Demonstrates Statistical

Significance in ECOG Intermediate Risk RCC Patients

Overall Survival, Intermediate-Risk

PROPHAGE Opportunity: Glioma

•

Over 20,000 cases of brain cancer diagnosed each year in the US

•

Phase 2 trial underway in newly diagnosed glioma

–

Actively enrolling patients (n=50); recently expanded to 10 sites

–

Prophage + standard of care [radiation therapy plus Temodar (temozolomide)]

–

No significant toxicities observed to date

•

Phase 1/2 trial in recurrent glioma

–

Phase 2 portion actively enrolling patients (n=30)

–

Phase 2 survival data

•

Median survival 44 weeks, compared to historical median of 26 weeks

•

70% of patients survived beyond 36 weeks

•

40% survived up to or longer than 1 year

•

All patients tested mounted innate immune response, 92% mounted adaptive

CD4/CD8 t-cell response

•

Potential for accelerated registration pathway in the US

•

Investigator-sponsored (UCSF); funded by NCI, patient advocacy

groups

NCCN Practice Guidelines (2011) Treatment

Overview: Recurrent GBM

Agents listed in the practice

guidelines

Median OS Months

Platinum Based Regimens¹

7.4

PCV²

7.6

Cyclophosphamide³

4.0

Carmustine wafer

7.5

Temozolomide

Not Reported/median PFS 5 mos.

Bevacizumab

9.2

Prophage Series G-200

>10 months

Yung

WK,

al.

Clin

Oncol

1991

(Population

included

and

GBM)

Kappelle

AC,

al.

Neurology

2001

(Procarbazine,

Lomustine,

Vincristine

combination),

Chamberlain

MC,

Tsao-Wei,

DD.

Cancer

2004

Brem

al.

Lancet

1995,

Perry

al.

Cancer

2008,

Friedman

al.

Clin

Oncol

2009,

Parsa

al.

18th

International

Conference

for

Brain

Tumor

Research

and

Therapy

NCCN Practice Guidelines (2011)

Treatment Overview: Newly Diagnosed GBM

Agents listed in the practice guidelines

Median PFS/OS

Months

Carmustine

wafer¹

PFS 5.9

OS 13.9

Radiation/Temozolomide²

PFS 6.9

OS 14.6

XRT/TMZ +

Prophage Series G-100 (n=15)

N/A

Westphal et al. Neuro-Oncology 2003

Stupp et al. NEJM 2005

"Significant Advances" (p< 0.05) in Epithelial Malignancies in

Patients Not Selected on the Basis of Molecular Characteristics

Drug

Tumor

Survival Gain (months)

•

Gemcitabine

Pancreas

1.5

•

Bevacizumab

Colon

2.2

•

Erlotinib

Pancreas

0.4

•

Bevacizumab

NSCLC

•

Sorafenib

Renal

•

Temozolamide

GBM

2.5

•

Docetaxel

Prostate

2.4

•

Topotecan

Cervix

2.3

•

Cetuximab

Colon

1.5

•

Erlotinib

NSCLC

•

Cetuximab

NSCLC

1.2

•

Bevacizumab

Breast

1.5

Data

from

Stewart

DJ,

Kurzrock

Cancer:

the

road

Amiens.

Clin

Oncol

2009;27:328–33.

A New Era for Cancer Vaccines

•

Provenge FDA approval

•

Ipilimumab imminent FDA PDUFA date

•

Rationale for combinations with vaccines

•

Newly-created opportunity to use combinations

Genital Herpes and HerpV Overview

•

Genital herpes is the most prevalent viral STD

–

Approximately 55 million Americans/Europeans affected

–

80% of patients suffer symptomatic recurrences

•

Virus establishes life-long latency

•

HerpV is an off-the-shelf HSP-based therapeutic vaccine

candidate for treatment of genital herpes

•

Contains 32 immunogenic peptides of the herpes genome

•

Promising Phase 1 results

–

100% of evaluable patients receiving HerpV+QS-21 had CD4+T-cell

response

–

63% had CD8+ T-cell response; seeing both is unprecedented

–

Safety profile established

•

Potential to partner for Phase 2 and beyond

•

Potential platform technology

2011 Goals and Objectives

•

Continued clinical advancement of QS-21 vaccine adjuvant

–

Possible

Phase 3 data announcements

•

Partnerships for Oncophage®

in RCC in Europe/Russia

•

Advancement of Prophage in glioma (brain cancer)

–

Recurrent glioma data presentation mid-year

–

Exploration of accelerated US regulatory pathway

–

Initiation of pediatric trial mid-year

–

Potential for partnership

•

Initiation of Prophage Series combination trials

•

Development of HerpV in genital herpes

–

Data publication mid-year

–

Potential for partnership opportunity

•

In-licensing agreements and new corporate/academic

collaborations

Balance Sheet

December 31, 2010 ($ millions)

Cash and short-term investments

$19.8

Other current assets

1.1

Net plant and equipment

6.2

Other long-term assets

3.8

Total assets

$30.9

Current liabilities

$40.1

Long-term liabilities

5.5

Stockholders’

equity (14.7)

Total liabilities and stockholders’

equity

$30.9

Agenus (AGEN) 8-KRegulation FD Disclosure