Different organic solvents (petroleum ether, ethyl acetate and ethanol) were used to extract A. aegerita mycelium and spent culture medium following growth of the fungus in submerged culture. All the extracts exhibited antioxidant and anti-tumor activity that may be linked to triterpenoids present in the extracts. Different organic solvents (petroleum ether, ethyl acetate and ethanol) were used to extract A. aegerita mycelium and spent culture medium following growth of the fungus in submerged culture. All the compound demonstrated antioxidant and anti-tumor activity that may be linked to triterpenoids present in the extracts.