Novartis Deepens Cardiovascular Collaboration with Argo Biopharma, Adding $5.2B Deal to Bring Total Partnership Value Near $9.4B

On September 3, 2025, Argo announced a collaboration with Novartis.New Strategic Cooperation AgreementThe two parties will jointly develop a number of cardiovascular products.

According to the agreement, Argo Biopharma granted Novartis the option for rights outside of China for two early-stage molecules aimed at treating severe hypertriglyceridemia (sHTG) and mixed dyslipidemia, as well as the priority negotiation rights for the BW-00112 (ANGPTL3) product.

This is a further expansion of the existing cooperation between the two parties.In January 2024, the two parties reached a cooperation agreement worth $4.165 billion for two cardiovascular siRNA drugs. Adding the potential milestone payment of $5.2 billion from this deal, the total amount of the two transactions is close to $9.4 billion.。

According to the agreement disclosed by Argo, this collaboration comprises three key components.

Authorization and Right of First Refusal:Argo Grants Novartis Option Rights for Two Early-Stage Molecules Outside of China to Treat Severe Hypertriglyceridemia (sHTG) and Mixed Dyslipidemia, Along with Priority Negotiation Rights for BW-00112 (ANGPTL3) Product.

The product is currently in Phase II clinical trials in the United States and China, and subsequent clinical trials for combination therapy 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 initiate Phase I clinical trials in 2026.

Financial Arrangements: Argo will receive$160 million upfront payment, with 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.

In addition,Novartis has expressed preliminary interest in participating in Argo Biopharma's next round of equity financing.

Behind Novartis' continued bet on siRNA technology lies its strategic demand to "replenish and upgrade ammunition" in its cardiovascular pipeline.

As a core therapeutic area for Novartis, the patent for its traditional blockbuster drug Entresto (sacubitril/valsartan) is about to expire, creating an urgent need to replenish its innovative pipeline.

Since its approval and launch in 2015, Entresto has rapidly become a key cardiovascular product for Novartis due to its breakthrough efficacy in heart failure treatment, serving as one of the main drivers of Novartis' revenue growth in recent years.

In 2023, the global sales of Entresto reached$6.035 billion, occupying a significant portion of Novartis' total revenue. Finding the next cardiovascular drug alternative that can support billions of dollars in sales has become an urgent strategic need for Novartis.

Dr. Shaun Coughlin, Head of Cardiovascular and Metabolic Diseases Research at Novartis, emphasized: "The long-acting siRNA technology has been proven to durably reduce the expression of pathogenic proteins, marking a significant breakthrough in the prevention and treatment of cardiovascular diseases."

Argo Biopharma's ability to attract Novartis into two large-scale collaborations in a short period of time stems from its deep technical expertise and R&D efficiency.

Senior pharmaceutical industry expert Guo Xinfeng pointed out that the cooperation between the two parties in January 2024 was a "trial," and through the examination of the ANGPTL3 combination therapy project, Novartis gained an in-depth understanding of Argo Biopharma's technical capabilities, R&D efficiency, and pipeline potential. This also built mutual trust, ultimately leading to further collaboration.

Argo Biopharma and Novartis first joined hands in January 2024, with their previous collaboration totaling $4.165 billion laying the groundwork for this transaction.

At that time, Argo granted Novartis the overseas rights to two cardiovascular siRNA drugs, including the global rights to a Phase I clinical product and the rights outside Greater China to a Phase I/IIa clinical product. The agreement specifically stipulated that Novartis retains "the option to select up to two additional target compounds for cardiovascular diseases."

The siRNA candidate molecules covered by the new agreement fall within the scope of this option. According to reports, BW-00163 (hypertension siRNA), the core pipeline from the initial collaboration, entered Phase II clinical trials in June 2025, successfully triggering a milestone payment and laying the foundation for this expanded partnership.

Cardiovascular diseases are a globalMajor Causes of Death and DiseaseOne of.An estimated 19.8 million people died from cardiovascular diseases (CVDs) globally in 2022., accounting for approximately the total number of global deaths 32%, among which 85%Deaths are attributed to heart attacks and strokes. siRNA therapy has the potential to enhance therapeutic applicability, with differentiated efficacy and administration methods, which could improve patient outcomes and adherence.

Novartis' bet on siRNA has long been "traceable." In 2019, Novartis acquired MDCO and obtained an siRNA drug called inclisiran. In August 2023, the first prescription in China was issued, with the generic name being inclisiran sodium injection, priced at nearly 10,000 yuan in China.

On July 17, 2023, Novartis announced the acquisition of DTx Pharma for a total deal amount of $1 billion, including a $500 million upfront payment and up to $500 million in milestone payments.

Through this acquisition, Novartis gained DTx Pharma's core asset — DTx-1252, an siRNA candidate drug in the preclinical stage.

This deepened cooperation with Argo Biopharma further demonstrates Novartis' strategic determination to comprehensively deploy siRNA technology in the cardiovascular metabolic disease field, while also providing valuable international exposure and R&D funding support for innovative biotechnology companies like Argo Biopharma.

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