BoWang Pharma and Novartis Deepen Strategic Collaboration with Potential Milestones Exceeding $5 Billion to Accelerate Cardiovascular Drug Development

On September 3, Argo Biopharma announced 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.According to the agreement, both parties will jointly explore the combination therapy of ANGPTL3 for the treatment of dyslipidemia. The agreement also includes Novartis' licensing option for next-generation molecules in Argo's pipeline. Novartis has obtained the rights to an siRNA candidate molecule currently in the IND-enabling study stage from Argo Biopharma. Argo will receive a $160 million upfront payment, options for profit and loss sharing in multiple regions, potential near-term equity investment, and is eligible for option payments, clinical and sales milestone payments, as well as tiered royalties on commercial sales.

Dr. Dongxu Shu, Co-founder, Chairman of the Board, and CEO of Argo Biopharma, expressed his delight in deepening the collaboration with Novartis. This new partnership will further empower Argo Biopharma to build its innovation engine.Argo BiopharmaAimed at developing "best-in-class" siRNA therapies, with the vision of becoming a global biotechnology company, business development is an essential part of expanding the company's influence in liver and extrahepatic siRNA therapies.

"Long-acting siRNA technology has been shown to durably reduce the expression of disease-causing proteins, marking a significant breakthrough in the prevention and treatment of cardiovascular diseases," said Dr. Shaun Coughlin, Head of Cardiovascular and Metabolic Diseases Research at Novartis. "Novartis is always committed to developing innovative therapies for patients with cardiovascular diseases. We are very pleased to reach a new collaborative agreement with Argo Biopharma. This renewed partnership will further advance the development of potential new therapies to address unmet clinical needs."

This new cooperation agreement includes:

• Authorization and Right of First Refusal
  

Argo Biopharma Grants Novartis Option for Rights Outside China to Two Early-Stage Molecules for the Treatment of Severe Hypertriglyceridemia (sHTG) and Mixed Dyslipidemia, Along with Priority Negotiation Rights for BW-00112 (ANGPTL3). The product is currently inIIIn the clinical trial phase, subsequent trials involving 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 launch in 2026. I Phase clinical trial.

• 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 specifics of its 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.

Argo is a clinical-stage biotechnology company dedicated to developing a new generation of RNAi therapies to provide better treatment options for patients worldwide. The company leverages its liver-targeting and extrahepatic delivery technology platforms to build a diversified RNAi drug R&D pipeline covering cardiometabolic diseases, specialty diseases, viral infections, central nervous system disorders, and rare diseases. Currently, Argo has six RNAi drug candidates in clinical studies.

References:
[1]Argo Biopharma Deepens Strategic Cooperation with Novartis to Accelerate the Development of New Cardiovascular Disease Drugs


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