Shanghai Argo Biopharmaceutical Co., Ltd. (“Argo”), a biotechnology company focused on the discovery and development of next-generation RNAi therapeutics, today announced that it has entered into two exclusive license and collaboration agreements with Novartis PHARMA AG (“Novartis”).
– Argo will receive upfront payments of $185 million from Novartis and is eligible to receive potential option and milestone payments as well as tiered royalties on commercial sales.
– Novartis will receive an ex-Greater China exclusive license for a Phase 1/2a stage cardiovascular asset, a worldwide exclusive license for a Phase 1 stage cardiovascular asset as well as an option to license compounds directed against up to two cardiovascular targets.
– Discovered and developed with Argo’s advanced RNA interference (RNAi) technology, these programs will reinforce and expand the Novartis RNAi portfolio on Cardiovascular and Metabolic diseases (CVM).
