Argo Biopharma, a Shanghai-based developer of small interfering RNA (siRNA) drugs, has secured a licensing agreement with Novartis (NYSE: NVS), the Swiss pharmaceutical giant. The deal grants Novartis global rights to a Phase I drug candidate and ex-Greater China rights to another program currently in Phase I/IIa. In return, Argo will receive an upfront payment of USD 185 million from Novartis, with the total deal value, including milestone payments, estimated at USD 4.165 billion.
Founded in 2021, Argo Biopharma has a pipeline of approximately 20 RNAi drug candidates under clinical development. The company’s lead programs, BW-01 and BW-02, are targeted at cardiovascular diseases and are believed to be ANGPTL3 siRNA and AGT siRNA, respectively, used for the treatment of abnormal blood lipids and hypertension.
The siRNA drug space has seen significant activity in recent months. In July 2023, Roche licensed Alnylam’s AGT siRNA for USD 2.8 billion. More recently, Boehringer Ingelheim entered into a collaboration with Suzhou Ribo Life Science Co., Ltd, a Chinese company, to develop siRNA drugs with an investment of USD 2 billion.- Flcube.com
