Novartis signs mRNA deal worth about $7.8 billion with China's Abogen
NVS•Novartis signed a licensing deal with Chinese biotech company Abogen worth about $7.8 billion to advance RNA-based therapy. Abogen will receive $575 million upfront and could earn another $7.2 billion if the drug advances through development and wins regulatory approval.
1. Licensing deal terms
Novartis will gain exclusive rights to Abogen's experimental drug ABO2203 and options to license other therapies based on Abogen's RNA technology. The deal also gives Novartis the option to license additional experimental medicines developed using Abogen's RNA platform.
2. Drug target
ABO2203 is designed to treat autoimmune diseases by targeting B cells, which cause disease in conditions such as lupus and rheumatoid arthritis.
