Arbor Biopharma Strikes New $5.2B siRNA Deal with Novartis, Backed by DaoYuan Capital
Argo
RNAi Drug Developer
Novartis
Drug Development and Manufacturing
On September 3, 2025, Daoyuan's Continuously Invested Outstanding ProjectArgo Biopharma Reaches New Strategic Cooperation Agreement with NovartisThe two parties jointly developed a number of cardiovascular products.Argo Biopharma to Receive $160 Million Upfront Payment, and may receive potential milestone and option payments as well as tiered royalties on commercial sales,Total potential milestone value up to $5.2 billion.Moreover,Novartis has expressed preliminary interest in participating in Argo Biopharma's next round of equity financing.
This new cooperation agreement includes:
Authorization and Right of First Refusal
Argo 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 in Phase II clinical trials in the United States and China, with subsequent combination therapy clinical trials to 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.
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 details of its participation (including investment amount and timing) are still subject to customary due diligence and will be determined through negotiations and formal agreement between the two parties.
Dr. Dongxu Shu, Co-founder, Chairman of the Board, and Chief Executive Officer of Argo Biopharma, stated:
"We are very pleased to deepen our cooperation with Novartis, a global leader in the fields of cardiovascular, renal, and metabolic diseases. This new collaboration will further strengthen Argo's innovation engine as we aim to develop best-in-class siRNA therapies and build top-tier clinical development teams across multiple regions worldwide. Argo’s vision is to become a global biotechnology company, and business development is a crucial part of expanding the reach of our liver and extrahepatic siRNA therapies."
Shaun Coughlin, MD, Head of Cardiovascular and Metabolic Diseases Research at Novartis, stated:
"Long-acting siRNA technology has been shown to durably reduce the expression of pathogenic proteins, marking a significant breakthrough in the prevention and treatment of cardiovascular diseases. Novartis is always committed to developing innovative therapies for patients with cardiovascular diseases. We are very pleased to reach a new cooperation agreement with Argo Biopharma. This renewed partnership will further advance the development of potential new therapies to address unmet clinical needs."
About Cardiovascular Diseases
Cardiovascular diseases are one of the leading causes of death and morbidity worldwide. In 2021, 20.5 million people died from cardiovascular diseases, accounting for about one-third of global deaths. siRNA therapy has the potential to enhance therapeutic applicability, with differentiated efficacy and modes of administration, which could improve patient outcomes and adherence. Argo Biopharma is efficiently advancing global R&D by integrating resources from Asia, the Americas, and Europe, committed to providing innovative, differentiated drugs for patients in urgent need of treatment.
About Argo
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 candidate drugs in clinical trials.
About Daoyuan Capital
Daoyuan Capital is a leading private equity investment firm focused on the healthcare sector. It is committed to leveraging the power of capital and industry resources to help outstanding healthcare companies grow rapidly, providing society with better medical products and services, and promoting human health.
Currently, Daoyuan Capital manages 20 RMB funds and 4 USD funds, with investments in 92 outstanding projects, including 16 IPO projects (one of which has received registration approval from the CSRC). These include Prius Ophthalmology (301239), Jinxin Fertility (HK.1951), Sinno Medical (688108), Innovax (688253), Tinavi Medical Technologies (688277), Viva Biotech (HK.1873), Aipulifeng (688393), and Angellis (688581), among others. In the next three years, more than 10 invested companies are expected to enter the IPO process.
