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

January 7, 2024

$4,165M

$185M

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

Undisclosed royalties

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

Development and Commercialization License

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

• 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.

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.

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