Recently,Zhangjiang Pharma Valley Enterprise Argo BiopharmaAnnounced a new strategic cooperation agreement with Novartis to jointly develop multiple cardiovascular products. This newly reached agreement is a further expansion based on the existing cooperation between the two parties.
This new cooperation agreement includes:
● Authorization and Right of First Refusal
Argo Grants Novartis Options for Rights Outside China to Two Early-Stage Molecules for the Treatment of Severe Hypertriglyceridemia (sHTG) and Mixed Dyslipidemia, as well as Preferential Negotiation Rights for the BW-00112 (ANGPTL3) Product. This product is currently in Phase II clinical trials in the United States and China, and subsequent combination therapy clinical trials will be led by Argo.
● Innovative transaction structure
For another siRNA candidate drug in the preclinical research stage, Argo Biopharma has granted Novartis an exclusive license outside of China, with a reciprocal option to share profits and losses (P&L) in the United States and China. This product is expected to enter Phase I clinical trials in 2026.
● Licensing Fees and Equity Financing
Argo Biopharma will receive an upfront payment of $160 million and is eligible for potential milestone and option payments, as well as tiered royalties on commercial sales, with a total potential milestone value of up to $5.2 billion. Additionally, Novartis has expressed preliminary interest in participating in Argo Biopharma's next round of equity financing. The specific terms of participation (including investment amount and timing) are still subject to routine due diligence and will be determined through negotiations and the signing of a formal agreement by both parties.
