Novartis Signs Up to $7.8 Billion mRNA Deal with China’s Abogen
Swiss drugmaker Novartis has struck a major licensing deal with Chinese biotech Abogen Biosciences, valued at up to $7.8 billion, to develop mRNA-based therapies for autoimmune diseases.
Deal highlights:
Abogen gets $575 million upfront
Up to $7.2 billion more in milestone payments
Novartis gains exclusive global rights to Abogen’s experimental drug ABO2203
Plus options on other RNA-based programs from Abogen
ABO2203 uses mRNA technology to instruct the body to produce a treatment that targets and destroys disease-causing B cells. It aims to help patients with conditions like lupus and rheumatoid arthritis.
This comes after recent trial setbacks that cost Novartis nearly $30 billion in market value and drew investor criticism. The company says the deal fits its existing work in autoimmune diseases.
It also reflects a growing trend of Big Pharma partnering with Chinese biotechs for innovative treatments.
A big bet on next-generation mRNA beyond vaccines. What are your thoughts on this move?
#Novartis #mRNA #Biotech #Pharma #Abogen
Swiss drugmaker Novartis has struck a major licensing deal with Chinese biotech Abogen Biosciences, valued at up to $7.8 billion, to develop mRNA-based therapies for autoimmune diseases.
Deal highlights:
Abogen gets $575 million upfront
Up to $7.2 billion more in milestone payments
Novartis gains exclusive global rights to Abogen’s experimental drug ABO2203
Plus options on other RNA-based programs from Abogen
ABO2203 uses mRNA technology to instruct the body to produce a treatment that targets and destroys disease-causing B cells. It aims to help patients with conditions like lupus and rheumatoid arthritis.
This comes after recent trial setbacks that cost Novartis nearly $30 billion in market value and drew investor criticism. The company says the deal fits its existing work in autoimmune diseases.
It also reflects a growing trend of Big Pharma partnering with Chinese biotechs for innovative treatments.
A big bet on next-generation mRNA beyond vaccines. What are your thoughts on this move?
#Novartis #mRNA #Biotech #Pharma #Abogen