January 2024 Top Biopharma Deal: Argo and Novartis for RNA-based therapies

Feb 7, 2024 | Deal of the Month

January 2024 Top Biopharma Deal Upfront
Argo Biopharmaceutical development and commercialization deal with Novartis RNA-based therapies

Highlighted Deal Financial Comps

Date Announced:

January 7, 2024

Total Deal Value:

$4,165M

Upfront Cash:

$185M

Upfront Equity:

n/a

Option Payments:

n/a

Total Milestones:

$3.98B in option exercise fees, development, regulatory, and commercial milestones.

Royalties:

Undisclosed royalties

Cost & Profit Split:

n/a

Deal Synopsis

The Asset:

Phase I RNA-based therapy with an option for up to 2 additional therapies for the treatment of cardiovascular diseases

Deal Structure:

Development and Commercialization License

Partnership Features:

Collaborative Development, No Shared Cost; Options to Add Products, TAs, and/or Territories

Deal Details:

  • Argo Biopharmaceutical granted Novartis exclusive, worldwide rights to develop and commercialize a Phase I RNA-based therapy for cardiovascular diseases, with an option for up to 2 additional therapies.
  • Novartis has exclusive, worldwide rights (excluding China) for a Phase 1/2a therapy.
  • Argo will receive an upfront payment of $185 million.
  • Argo is eligible for up to $3.98 billion in option exercise fees, development, regulatory, and commercial milestones.
  • Argo will also receive undisclosed tiered royalties on sales.

Last Month:

DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.

We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.

21,598

Licensing Deals

22,217

Funding Rounds

4,216

M&A

35,278

Company Profiles

5,897

Other Deals

27,588

Drug Sales Figures

All of this by stage, disease indication, modality, target...

More Research by DealForma

Venture Activity In Global Healthcare & Life Sciences – 2023

Venture Activity In Global Healthcare & Life Sciences – 2023

An increase in down rounds in 2023 indicates a reassessment of valuations in VC. Challenges are expected to persist in the sector through the H1 of 2024, grappling with repercussions from previous excesses and a challenging fundraising environment. The initiation of a...