Shanghai-based biotechnology firm Argo Biopharmaceutical Co., Ltd. ("Argo") has recently disclosed two exclusive license and collaboration pacts with Novartis PHARMA AG ("Novartis"). In the initial agreement, Argo granted Novartis exclusive global licenses for the development and commercialization of a Phase 1 stage program, accompanied by a research collaboration. Novartis also secured an option to potentially license compounds for up to two additional cardiovascular disease targets. The second agreement granted Novartis an exclusive ex-Greater China license for the development and commercialization of a Phase 1/2a clinical-stage program targeting cardiovascular disease.
These clinical-stage assets, developed using Argo's advanced RNA interference (RNAi) platform technology, exhibit industry-leading efficacy and durability in therapies. The combined potential value of these transactions for Argo is up to $4.165 billion, inclusive of tiered royalties.
Dongxu Shu, Argo Biopharma's President and CEO, expressed satisfaction, noting that this marks the first substantial overseas out-licensing transaction in the RNAi field from a Chinese biotech company. Shu emphasized Novartis' global leadership in cardiovascular disease and RNAi therapeutics, recognizing the value created by Argo's team in advanced RNAi platform technology and the new generation cardiovascular and metabolic disease (CVM) pipeline.
Shaun Coughlin, Head of Cardiovascular and Metabolic Disease Area Research at Novartis, also expressed optimism, stating that the cardiovascular programs developed by Argo using its RNAi platform complement Novartis' RNA-based therapeutics pipeline. Coughlin looks forward to collaborating with Argo to advance these investigational therapies and address unmet patient needs in cardiovascular medicine.
Under the first agreement, Novartis has the option to select up to two targets for discovery and optimization by Argo. Following this process, Novartis may exercise an option to obtain a worldwide exclusive license for these targets.
Sick and tired of always wondering if you are being asked to pay the right price for your APIs? This empowers you with the answers you need to make the right decisions in the Global API market.
Chemxpert Database is one of the biggest and most comprehensive directories of pharma and chemicals, manufacturers, suppliers and information. Provided with current information on prices, demand and transactions, it gives you instant feedback on whether you are buying what is right and at the right time.
Start using market intelligence today and allow yourself to be in control in the API market.
Check it out today and make more informed sourcing decisions! Learn More!